DevvStream Holdings, a technology-based sustainability company, and the BC Road Builders and Heavy Construction Association (BCRB) has announced a groundbreaking carbon offtake agreement.
DevvStream has committed to pre-purchasing 25,000 carbon credits generated by BCRB’s greenhouse gas reduction program, a revolutionary carbon offset project poised to make a substantial impact on global carbon emissions in the transportation sector.
The BCRB program is a forward-thinking initiative aimed at reducing carbon emissions associated with road construction and maintenance activities, a significant contributor to the transportation sector’s emissions. With transportation responsible for approximately 25 per cent of the world’s energy-related emissions in 2020, this program represents a crucial step towards a more sustainable future.
Under this agreement, DevvStream will pre-purchase 25,000 carbon credits generated by BCRB’s offset project during 2024 and 2025, and have a right of first refusal for any additional credits generated by BCRB. The program is designed to enable road construction and maintenance organizations across Canada and the USA to generate carbon credits by implementing eligible activities, including electrification of fleets and upstream equipment, as well as use of low-carbon materials including asphalt. This ambitious project boasts one of the largest geographical footprints globally, covering activities that go above and beyond regulatory requirements.
The BCRB Program is set to become operational by early next year, with the first verified carbon credits expected to be delivered by late 2024. This partnership represents a significant stride toward a more sustainable future, aligning with DevvStream’s mission to advance sustainability through the development and monetization of environmental assets.
“This partnership with DevvStream is a testament to our commitment to sustainability and innovation. We believe that our greenhouse gas reduction program will set a new standard for the industry while contributing significantly to global efforts to combat climate change,” said BCRB vice president Matt Pitcairn.
