Environment and Climate Change Canada (ECCC) yesterday published the Improved Forest Management on Private Land, Version 1.0 protocol (IFM Protocol) alongside the previously published protocols for Landfill Methane Recovery and Destruction and Reducing Greenhouse Gas Emissions from Refrigeration Systems (see our earlier bulletin here). The IFM Protocol provides requirements for project implementation and the methodology for quantifying greenhouse gas (GHG) reductions from eligible IFM projects. Carbon offset credits generated under the Canadian Greenhouse Gas Offset Credit System Regulations (the Regulations) from eligible projects can be used to comply with obligations under the federal Output-Based Pricing System or to meet voluntary climate targets or commitments.  The launch of the IFM Protocol follows British Columbia’s recently published revised Forest Carbon Offset Protocol 2.0 earlier this month, which, among other updates, now requires First Nation engagement and consultation on all projects (see our bulletin on the draft protocol here).  This bulletin briefly summarizes the IFM Protocol and provides updates regarding other protocols under development by ECCC.  The IFM Protocol Eligible projects under the IFM Protocol may register in Canada’s GHG Offset Credit System if the following conditions, among others, are met: Location. The project must be located in private forestland where carrying out forest management activities is legally permissible and is considered merchantable (“managed forestland”) in a province or territory in Canada. However, the IFM Protocol is also applicable to provincial and federal Crown lands where a First Nation has exclusive use and occupation. Baseline scenarios. Baseline scenarios may be updated during the crediting with a minimum of 5 years between updates. To determine the baseline scenario, proponents must follow a 3-step process set out in the IFM Protocol to determine regional and project-specific scenarios and the most conservative baseline scenarios between them. Eligible project activities. Project proponents may undertake any IFM activity that enhances carbon stocks within the project site relative to the baseline scenario. Eligible project activities include,…