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Supreme Court of Canada rules on constitutionality of Greenhouse Gas Pollution Pricing Act

Government of Canada announces next step in creation of domestic carbon offset to further support clean growth


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GATINEAU, QC, March 5, 2021 /CNW/ - The Minister of Environment and Climate Change, the Honourable Jonathan Wilkinson, today announced draft regulations to establish the Federal Greenhouse Gas Offset System to reduce carbon emissions and create jobs.
The Federal Greenhouse Gas Offset System is a market-based approach that will spur innovation and private-sector investment in economic activities that lead to further emissions reductions. It will also help Canadian industry remain competitive.
Federal Greenhouse Gas Offset System – Proposed Regulations (CNW Group/Environment and Climate Change Canada)
The system will support a domestic carbon trading market under Canada s carbon price for industry – the Output-Based Pricing System (OBPS) – under which regulated facilities who exceed their emission limits can provide compensation by purchasing federal offset credits – an additional lower-cost option – generated from ....

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Canada unveils GHG reduction credits to boost carbon trading market


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CALGARY, Alberta (Reuters) - Canada released draft regulations on Friday aimed at stimulating domestic carbon credit trading, part of the federal government’s push to curb emissions of climate-warming greenhouse gases.
Canada, the world’s fourth-largest oil producer and one of the highest greenhouse gas (GHG) emitters on a per capita basis, has committed to reducing emissions by 2030 to 30% lower than 2005 levels. It is targeting net-zero emissions by 2050.
The new Federal GHG Offset System is designed to support a domestic carbon trading market. Projects that reduce or remove GHGs can generate credits and sell them to industrial facilities - such as cement works or refineries - that exceed emissions limits determined under Canada’s carbon tax. ....

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