BRUCE POWER'S
Carbon Offset & Credit Policy
Bruce Power is committed to achieving Net Zero Scope 1 and Scope 2 greenhouse gas (GHG) emissions from our site operations by 2027, becoming the first nuclear operator in North America to set this ambitious target. Bruce Power’s 2027 Net Zero Strategy outlines our approach, which focuses on implementing energy- and emission-reduction projects in our operations, finding alternatives to high-emission energy sources, and, where further reductions are not feasible, leveraging carbon offsets and clean energy credits (“CECs”) to offset remaining sources of emissions. While Bruce Power prioritizes reducing our own emissions, we recognize the role of carbon offsets and CECs and are committed to ensuring the environmental integrity and disclosure of any carbon offsets and CECs used.
Bruce Power’s Carbon Offset and Credit Policy applies to both carbon offsets and CECs. This policy demonstrates our commitment to pursuing carbon offsets and CECs that are real, measurable, and additional with methodologies that are independently validated and verified and that demonstrate long-term environmental benefits. The criteria outlined in this policy will be considered above the price of the carbon offsets and CECs to maximize benefits to the environment, the people who live and work in this area, and the Canadian economy.
Bruce Power considers carbon offsets and CECs meeting the following criteria to be eligible to support our 2027 Net Zero reduction goals.
You can count on Bruce Power to:
Pursue carbon offsets and CECs that are tracked on a reputable registry that demonstrates transparency.
Carbon offsets must be:
- Subject to methodologies that have been validated and independently verified by accredited bodies.
- Registered and tracked on a registry that aligns with internationally recognized standards, such as 1SO 14064, that tracks the creation, transfer, and retirement of credits.
CECs must be:
- Registered and tracked on a CEC registry (e.g., M-RETs) that tracks the creation, transfer, and retirement of credits.
Bruce Power holds the due diligence to assess whether robust, independent verification procedures were in place and that projects were implemented in accordance with their respective methodologies.
Provide clear indication of the project location and scope for all purchased and retired carbon offsets and CECs. Proximity to site will inform priority of purchase, with a preference to pursue carbon offsets and CECs that strengthen the local economy. Projects must clearly define their scope, boundaries, and limitations and, at a minimum, be generated in Canada, preferably in Ontario, to be eligible.
Support nature-based projects that create co-benefits within the agricultural and clean energy sectors and the surrounding communities. This includes biomass and nature-based carbon sequestration projects, with biodiversity and resilience benefits, and incremental clean energy production projects (e.g., nuclear, hydro, wind, biomass, and/or solar) that generate co-benefits by supporting our local community and economy.
Pursue carbon offsets and CECs with built-in assurance efforts to mitigate reversibility risk. Bruce Power will pursue carbon offsets and CECs that provide long-term environmental benefits and GHG reductions. When projects carry a risk of reversibility, adequate safeguards must be in place to ensure that the risk is minimized and that, should any reversal occur, a mechanism (e.g., assurance pool or holdback account) is in place to protect from possible reductions.
Support projects that demonstrate that carbon offsets and CECs are produced from an initiative that are additional and timely. Bruce Power will deem projects additional when there are no laws, regulations, orders, and legally binding agreements in place which directly or indirectly require the implementation of the project. Bruce Power will ensure that any assignment of a carbon offset or credit to our net zero targets is associated with an emission reduction or removal of one (1) metric tonne of carbon dioxide equivalent (CO2e). As of the signing date of this policy:
- Carbon offsets purchases will include credits that have been issued within a rolling five (5) year period (i.e., 2019+ vintage as of 2024) with a preference for issuance within the past three (3) years.
- CECs will be purchased/retired within the current year and applied against the emissions incurred from the electrical demand in that same year (i.e., Scope 2).
James Scongack, Chief Operating Officer and EVP, Bruce Power
