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Am I eligible to become a participant of the Westport Carbon Project (WCP)?
Why do I need to submit operating data for diesel vehicles in my fleet?
If my fleet owns the carbon credits, why should I transfer them to Westport?
Given the project costs and the volatile price of carbon on the voluntary market, it is unlikely that even the largest fleets would be able to generate enough carbon revenue to offset this investment. By joining the WCP, customers can realize an additional financial carbon benefit from operating natural gas fuelled vehicles without the costs of initiating their own carbon reduction projects.
What are the implications of signing over all credits to Westport?
How much is my fleet eligible for?
How does the program work?
The participant is required to complete the WCP Annual Reporting Form. This form can be completed online by logging on to the Westport Carbon website or downloaded and faxed, mailed or emailed to firstname.lastname@example.org. The completed form will provide the necessary data to report the amount of greenhouse gas reduced for each vehicle in each year. The form requires reporting of specific fuel consumption for CNG, LNG, renewable natural gas (RNG) and/or diesel and the annual distance driven. In your fleet’s first year of participation, reporting requirements also include providing data on equivalent diesel vehicles in order to develop an emissions baseline.
Once the carbon emissions reductions have been calculated, they are verified by a third party. The verifier may contact a random sample of project participants to confirm their reporting figures. Once verified, Westport will receive credits and may sell them to a company needing to offset their emissions via the APX Registry (www.vcsregistry.com). Westport will provide customers with an annual rebate cheque reimbursing participants for each credit accrued from your natural gas vehicles.
I have a natural gas vehicle with an ISL G engine. Who is Westport Innovations?
What if the country my vehicles operate in regulates carbon emissions?
What if I sell my natural gas vehicle?
What if my vehicle is in an accident and taken out of service?
What will Westport do with the submitted operational data?
What are the administrative costs?
If the transfer payment amount is less than US $100 then Westport will have no obligation to make any payment and the participant is under no obligation to pay any administration fee.
What if I don’t want to participate in the Westport Carbon Project (WCP)?
Where can I get more information?
APX VCS Registry (www.vcsregistry.com)
Provides carbon market participants with a secure, web-based system to create, verify, track, trade and retire Voluntary Carbon Units (VCUs). The Registry supports the VCS Association’s objectives to provide credibility to the voluntary markets, as well as to enhance business, consumer, and government confidence. Extensive public reports make the Registry open and transparent.
Carbon credit / carbon offset
A financial instrument that represents a tonne of carbon dioxide (CO2) or carbon dioxide equivalent gases (CO2e) removed or reduced from the atmosphere from an emission reduction project. The carbon credit can then be purchased by another party to offset its own carbon emissions.
Carbon Emissions Reduction Transfer Agreement (CERTA)
The contract that transfers ownership of the carbon emissions from the customer to Westport. The CERTA contract explains the data collection requirements, the process of emissions verification and the necessary steps to monetize the emission reductions associated with the operation of a natural gas vehicle.
Swiss Association for Quality and Management Systems (SQS) (www.ss.ch)
Provides verification services to the WCP. SQS reviews and audits the customer data submitted as part of our annual verification reports. SQS is an approved audit and certification body for Voluntary Carbon Standard (VCS) projects.
Voluntary carbon market
A carbon market that functions outside of the compliance market or government-related regulatory schemes. It enables companies and individuals to purchase carbon on a voluntary basis to offset their own emissions.
Voluntary Carbon Standard (VCS) (www.v-c-s.org)
A certification standard for carbon offset credits in the voluntary market. The standard provides for project-level quantification, monitoring and reporting, validation and verification of greenhouse gas emission reductions. The VCS is an initiative of the World Business Council for Sustainable Development, the International Emissions Trading Association, The Climate Group and the World Economic Forum. The VCS ensures that all project-based voluntary emission reductions are independently verified to be real, additional, quantifiable, independently verified, unique and permanent.
Westport Carbon Project (WCP)
The mechanism that generates annual carbon rebate cheques for participating customers. Natural gas engines have greenhouse gas emission reduction benefits and the WCP facilitates the process by which those carbon emission reductions are monetized. To take advantage of the WCP, customers are required to sign the CERTA and complete the WCP Annual Reporting Form.