Big Tree is Pleased to Acknowledge the Publication of Regulations for Canada’s Greenhouse Gas (GHG) Offset Credit System
June 16, 2022
Toronto, Ontario, June 16, 2022 – Big Tree Carbon Inc. (the “Company” or “Big Tree”) (TSXV:AGO) is pleased to recognize that the Government of Canada (“Canada”) has published the Canadian Greenhouse Gas Offset Credit System Regulations (“GHG OCSR”) in the Canada Gazette and has activated the Credit and Tracking System (“CATS”).
The GHG OCSR enables project proponents to generate federal offset credits if they register and implement projects that reduce Greenhouse Gas (GHG) emissions or remove GHGs following a published federal offset protocol. Offset credits can be sold and used for compliance by facilities covered in the federal Output Based Pricing System (“OBPS”) or sold and used by others who are looking to meet voluntary climate targets or commitments.
Canada’s CATS is live and will be used to track registration, reporting and federal offset credit issuance, transfer, retirement, suspension, revocation, and cancellation as well as compliance obligations and remittance of compliance units and any payments under Canada’s Greenhouse Gas (GHG) Offset Credit System.
Canada had also released a publication entitled “Carbon Pollution Pricing: Considerations for Facilitating Indigenous Participation in the Federal GHG Offset System” (the “Indigenous Participation Protocol”), which is available for public comment until September 2, 2022. The Indigenous Participation Protocol describes Canada’s vision of inclusion of First Nations within the GHG OCSR framework, which very much fits Big Tree’s vision of inclusion of First Nations developed over the past 15 years. Big Tree is continuing to focus its business on enhancing its ongoing relationships with First Nations across Canada.
The Indigenous Participation Protocol indicates that Environment and Climate Change Canada (“ECCC”) is currently in the process of developing a federal GHG offset protocol to recognize GHG reductions achieved through improved forest management practices. ECCC has also indicated the potential for future development of federal GHG offset protocols for forest-based project types to recognize carbon sequestration from afforestation/reforestation and avoided carbon release through avoided conversion of forests. These protocols will influence the development of Big Tree’s Lac Seul and Agoke projects.
Christopher Angeconeb, Chief Executive Officer of Big Tree said: “We are very excited to see these developments from the Government of Canada and now feel the light is green with respect to pushing our projects forward.”
WE ARE BIG TREE!
ABOUT BIG TREE CARBON INC.
Big Tree is a carbon sequestration natural resource developer and a mineral exploration company focused on the acquisition, exploration, and development of gold properties. Big Tree has a portfolio of Forest Carbon projects under development namely the Lac Seul and Agoke projects - and several mineral exploration assets in Ontario, which include the Richardson Lake, Ranger Lake, Dancing Man and Bridget Lake gold properties.
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Big Tree Carbon Inc.
President and C.E.O
Director of Business Development
Forward Looking Statement:
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world-wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management’s estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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