Vancouver, B.C.,  September 27, 2011 - In a first of its kind deal, The Carbon Offset Aggregation Co-operative of BC has reached a five year agreement to sell carbon offsets created through the reduction of diesel fuel consumption by heavy trucks and equipment to Pacific Carbon Trust.

The Co-op's members include natural resource, transportation and heavy construction companies, which will implement the Co-op's fuel reduction program, reducing fuel consumption through a variety of technological and mechanical interventions, as well as operator awareness training.

the cooperative's founding companies, 23 in total, burn 50 million litres of diesel in their equipment each year. Any reduction from that 50-million-litre baseline is eligible for carbon credits.

The methodology by which fuel savings will be converted to carbon offsets was developed by Dr Jurg Grutter of Switzerland, a world expert on transportation protocols.

The methodology, or protocol, underwent third party validation to meet the BC emission offsets regulation, and was accepted by the Ministry of Environment's Climate Action Secretariat in July.

Burning 1,000 litres of fuel releases three tonnes of carbon into the atmosphere, giving the founding members a total carbon saving of 150,000 tonnes

Offsets created through the protocol are highly saleable and desirable on the world market, as they will be created by real, measurable, verified ghg reductions, by companies and people "on the ground" through a member based cooperative.

The Co-op estimates potential reductions in BC's heavy industry fuel consumption to be in the millions of litres over the next few years, resulting in significant reductions in greenhouse gas emissions.

Scott McDonald, CEO of Pacific Carbon Trust, says, "It is our mandate to create economic opportunities in the context of reducing greenhouse gas emission in this province. This project achieves both those goals, tackling transportation-related emissions - the largest single source of emissions in BC - while supporting the development of an innovative project type that could become a model for other jurisdictions."

Carbon Offset Cooperative Board Chair, MaryAnne Arcand, is pleased with the agreement. "What started off a year and a half ago as an idea has become a reality. We've created a model and opportunity that will allow companies large and small, right down to a single owner-operator, to make real and lasting changes to their operations that will have a significant impact on the environment, and their bottom lines", she says.

An on-board computer can measure and record everything from a heavy-footed operator to a control system that does away with the need to keep heavy equipment operating all night long, a common practice during northern winters to prevent equipment from freezing.

"This isn't just a numbers game; this is a true reduction of carbon, a measurable. verifiable reduction of fuel used," said Arcand.

Co-op CEO George Stedeford, puts it this way. "The methodology is verified. The pilots are completed. The purchase agreement is done. It's time to get going, and start reducing diesel use and greenhouse gas emissions".