The Canadian province of Alberta made major changes to its carbon credits system in preparation for a future surplus of carbon credits that may flood the market. Alberta expects many carbon capture and storage (CCS) projects to come online from 2024 until 2030. The amendments are made under Alberta's Technology Innovation and Emissions Reduction (TIER) Regulation (AR 133/2019). They include creating two new types of carbon credits - the “sequestration credit” and the “capture recognition tonne.” The changes bring the TIER system in line with the minimum federal standards while ensuring that the carbon credits system continues to work in Alberta.

Source: carboncredits.com