Carbonzero, Gitxaała Enterprises and carbon markets are coming together in a deal that gives the Canadian climate consultancy a new ownership structure and gives a First Nations economic development corporation a larger foothold in the climate economy.

Gitxaała Enterprises Corporation, the business arm of British Columbia’s Gitxaała Nation, announced Oct. 6 that it had acquired Carbonzero. The company said Carbonzero will retain its existing name, clients, contracts and services, while Jeff Calvert takes over as chief executive.

The transaction comes as governments and businesses look for ways to expand carbon-market participation and channel investment toward emissions reductions and removals.

Canada has been developing its own offset-credit infrastructure while also examining ways for Canadian companies to participate in international carbon markets. The federal government said in September that it was exploring a framework for international carbon-credit transfers under Article 6 of the Paris Agreement.

For GECO, the acquisition also has a direct connection to British Columbia’s forest-carbon economy. The company said Carbonzero will expand its work in the province’s Output-Based Pricing System compliance market using Gitxaała Nation’s ownership of carbon credits from the Great Bear Rainforest.

The deal reflects a broader role for First Nations in Canada’s environmental and natural-resource economy.

The Great Bear Rainforest has already demonstrated how carbon finance can support Indigenous-led conservation and economic development. British Columbia says revenues from carbon offsets have helped First Nations participate in stewardship and implementation of regional conservation agreements.

Carbonzero, which has operated for more than two decades, will now build on that market expertise under First Nations ownership as GECO seeks new economic opportunities for Gitxaała Nation.

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