Canada’s Clean Fuels Regulation (CFR): Overview and Opportunities | Webinar by 3Degrees Group, Inc.

Canada’s Clean Fuels Regulation (CFR): Overview and Opportunities | Webinar by 3Degrees Group, Inc.

October 12, 2023 | 12:00 - 1:30 PM

Meeting Location: Webinar (Login details will be emailed once you register)

Session Type: Workshop

Topic Description

3Degrees Group Inc. is deeply established in the transportation incentive markets in North America and was eagerly awaiting the launch of Canada’s Clean Fuels Regulation (CFR). The CFR is an incentive program designed to encourage the use of cleaner low-carbon transportation fuels, encourage the production of those fuels, and reduce GHG emissions in the transportation sector. In decreasing their petroleum dependence through the deployment of electric, hydrogen, and renewable natural gas vehicles, fleet owners can tap into significant CFR revenue. The program is open to private and public fleets alike and represents a significant opportunity to reduce a fleet’s total cost of ownership (TCO) for their low-carbon vehicles.

Structured similarly to the California Low Carbon Fuel Standard (LCFS), the CFR is set to decrease the carbon intensity (CI) of transportation fuels used in Canada by 15% compared to 2016 levels. Though the CFR was published in 2022, the CI reduction requirements did not come into force until July 1, 2023 and obligated parties are not mandated to fulfill their initial obligations until late 2024. However, fleet operators and other organizations can decide to voluntarily participate in the regulation now and there is an incentive to act with urgency, as equipment must be deployed and registered before those entities may generate credits. Under the CFR, credit generation can begin the day after equipment is registered. A significant amount of supporting documentation is required to register and participate in the program, and meeting reporting and verification requirements can be challenging.

This is where 3Degrees comes into play — we have extensive experience in environmental markets and can advise companies on how to value low-carbon fueling activities under the CFR. Additionally, we help organizations customize and implement efficient and reliable data collection, ensure program revenue, manage market risk, and advise on credit sale strategies. In this workshop, we hope to provide attendees with a foundational understanding of the CFR and how the program might support the climate initiatives that pertain to each member’s fleet / transportation footprint.

Learning Objectives

• Objective 1: Members will understand the functionality and timeline of the CFR program

• Objective 2: Members will learn how to take advantage of market-based incentives like the federal CFR, the potential value to be realized from participating in the program, and how they can bolster an existing decarbonization strategy

• Objective 3: Members will walk away with guidance on how to maximize CFR market revenue and the overall benefits of program participation

Webinar login details will be emailed once you register.