The Trudeau government sees the cap as a key element to enforce a sharp reduction in pollution from the oil and gas sector, responsible for 27% of the country’s emissions
Canada will likely publish the final regulations of a plan to cap and cut greenhouse gases from the oil and gas sector by mid-2024, its environment minister told Reuters on Thursday.
The cap, which envisions limits on emissions or potentially raising the carbon price to incentivize driving down emissions, was first promised in Trudeau’s 2021 election campaign. It has faced delays amid opposition from industry and some provincial lawmakers. Canada’s announcement to eliminate such subsidies made it the first G20 country to deliver on a 2009 commitment to rationalize and phase out government support for the sector.
“We’re not counting on CCS to solve all of our climate change problems. It will account for maybe 5 per cent of our overall plan. It could be less than that by 2030,” he said.
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