Quebec RFP

Request for Proposal (RFP): Carbon Reduction and Removal Projects in Quebec

 

RFP Overview

Inlandsis, based in Montreal, is the first Canadian fund, and one of a handful globally, that provides project finance exclusively tied to environmental credits. Operating in multiple carbon markets, including regulated and voluntary markets, as well as low carbon fuel standard programs in North America, Inlandsis has established itself as a leader in sustainable investment. Its growing portfolio comprises over 40 carbon projects, reflecting its ongoing commitment to driving positive environmental impact.

Inlandsis is seeking non-binding proposals for innovative carbon reduction and removal projects within the province of Quebec. Inlandsis seeks to identify and support projects that can significantly reduce or remove greenhouse gas emissions while promoting environmental stewardship and economic growth.

RFP Objectives

General

  • Encourage and foster innovation and collaboration among stakeholders to address climate change.
  • Finding qualified carbon project leads in Quebec and building relationships with new project developers.
  • Supporting the development of carbon reduction/removal projects in Quebec.

Project        

  • Identify and implement carbon reduction projects that align with either Quebec’s cap-and-trade program – Le système de plafonnement et d’échange de droits d’émission (SPEDE) or any voluntary carbon market standard/registry approved by The International Carbon Reduction and Offset Alliance (ICROA).
  • Demonstrate measurable and quantifiable greenhouse gas (GHG) emission reductions/removals and provide sustainability or other co-benefits while achieving market returns.

Scope

Proposals are invited for projects that target carbon reductions or removals across various sectors. Project types can vary but must align or be supported with an existing approved carbon reduction methodology or one that is in an advanced development stage. Project types may include, but are not limited to:

  • Biochar Production
  • Afforestation and Reforestation Projects
  • Improved Forest Management (IFM)
  • Carbon Capture and Storage (CCS)
  • Destruction of Ozone Depleting Substances (ODS)
  • Methane Capture and Destruction or Beneficial Use
  • Other Carbon Dioxide Removal (CDR) Technologies

Submission Requirements

Interested parties are requested to submit proposals no longer than two pages addressing the following key aspects (for those projects in an earlier development stage, a subset of these is acceptable):

  1. Project Overview: Provide a detailed description of the proposed project, including its objectives, methodology, and expected outcomes. 
  2. Technical Feasibility: Demonstrate the technical feasibility of the project, including any innovative technologies or approaches employed.
  3. Environmental Impact: Assess the potential environmental benefits of the project, including quantification of greenhouse gas emissions reductions or removals, air quality improvements, and biodiversity conservation (as applicable).
  4. Economic Viability: Present a cost-benefit analysis and financial feasibility assessment, including funding sources and potential revenue streams which must include the sale of carbon offsets or other environmental attributes.
  5. Implementation Plan: Outline the timeline (must be less than 18 months), milestones, and key activities involved in project implementation, as well as any regulatory approvals or permits required.
  6. Stakeholder Engagement: If applicable, describe the engagement strategy for involving relevant stakeholders, including local communities, businesses, government agencies, and civil society organizations.
  7. Monitoring and Evaluation: Define the monitoring and evaluation framework to track project progress, measure impacts, and ensure planning activities for annual verification of carbon reduction/removal quantities as is required under the relevant methodology.

Eligibility Criteria

  • Environmental Attributes: Project applicants must obtain legal ownership of all future carbon offsets to be generated by the project or any related environmental attributes.  As part of financing structure and in exchange for an investment by Inlandsis, all or a portion of the carbon offsets will be required to be transferred to the fund.
  • Investment Size: Sufficient volume of carbon offsets generated by the project to support a minimum investment of CAD$2M by Inlandsis but should not exceed CAD$15M. Preference will be given those projects that require capital within the next six months.
  • Economics: Project must generate suitable market returns.
  • Project/Investment terms:  3-30 years.
  • Legal:  Proposals must be submitted by legally registered entities, including businesses and non-profit organizations.
  • Geography:  Projects must be located within the province of Quebec and comply with relevant regulatory and permitting requirements.
  • Stakeholder Outreach:  Preference will be given to projects that demonstrate collaboration and partnership with other organizations or communities.

Submission Instructions

Please submit your proposals electronically to Mark Netto no later than August 31, 2024

Evaluation Process

Proposals will be evaluated based on their alignment with the objectives, technical merit, environmental impact, economic viability, implementation feasibility, stakeholder engagement, and overall innovation. Using a multi-stage process, following an initial screening of all applications, shortlisted applicants may be invited for detailed presentations or further discussions.

Contact Information

For inquiries or clarifications regarding this RFP, please contact Mark Netto at mnetto@inlandsisfund.com. We look forward to receiving your proposals and collaborating on impactful carbon reduction and removal projects in Quebec.

The Inlandsis Fund

DISCLAIMER

The information contained in this Request for Proposal document (“RFP”) or subsequently provided to applicants, whether verbally or in documentary or any other form by or on behalf of Inlandsis or any of its employees or advisers, is provided to applicants on the terms and conditions set out in this RFP and such other terms and conditions subject to which such information is provided. This RFP is not an agreement and is neither an offer nor invitation by Inlandsis to the prospective applicants or any other person. The purpose of this RFP is to provide interested parties with information that may be useful to them in the formulation of their proposals pursuant to this RFP. The assumptions, assessments, statements and information contained in this RFP, may not be complete, accurate, adequate or correct. Each applicant should, therefore, conduct its own investigations and analysis and should check the accuracy, adequacy, correctness, reliability and completeness of the assumptions, assessments and information contained in this RFP and obtain independent advice from appropriate sources. The issue of this RFP does not imply that Inlandsis is bound to select an applicant and Inlandsis reserves the right to reject all or any of the proposals without assigning any reasons whatsoever.