Explainer: What is Canada doing to cut greenhouse gas emissions? & More News Here

Canada’s Prime Minister Justin Trudeau speaks to media on the GLOBE Forum 2022 in Vancouver, British Columbia, Canada March 29, 2022. REUTERS/Jennifer Gauthier

WINNIPEG, Manitoba, June 13 (Reuters) – Canadian Prime Minister Justin Trudeau has had a busy spring unveiling plans to assist cut the nation’s greenhouse gas emissions by 40-45% from 2005 ranges by 2030. His authorities took its newest step on June 8, establishing the primary a part of a nationwide carbon credit score market. learn extra

Here is a have a look at main steps Canada has taken and is planning.

HOW DO CREDITS WORK?

Canada is establishing a nationwide credit score system to award credit to municipal rubbish dumps, foresters, farmers, indigenous communities and carbon seize amenities for chopping emissions. Heavy industrial polluters and different corporations can purchase the credit to offset their emissions.

Some environmental teams have criticized the system, saying polluters may simply purchase credit to keep away from chopping their emissions.

There are already offset credit score methods in place within the provinces of British Columbia, Alberta and Quebec, with one other federal credit score system deliberate in reference to the upcoming Clean Fuel Standard regulation. Projects can not obtain credit beneath each the brand new nationwide system and different methods, a spokesperson for the Canadian setting ministry stated.

WHAT IS CANADA DOING ABOUT EMISSIONS?

Canada accounts for 1.5% of world emissions, in accordance to information platform Climate Watch, costs C$50 per tonne of carbon, with the tax rising to C$170 by 2030. The authorities pays customers a rebate for the tax on gasoline.

Polluters can purchase credit or cut emissions to handle prices.

Canada additionally goals to cut methane emissions from the oil and gas sector by 75% from 2012 ranges by 2030.

DOES CANADA CAPTURE AND SEQUESTER ITS CARBON?

Polluters at present seize few emissions for storage underground, a expensive means of retaining it out of the ambiance. But Canada has introduced an funding tax credit score, which is able to subsidize half of the capital price of constructing carbon-capture amenities.

Alberta, the place many of the oil and gas sector is primarily based, is in means of designating carbon seize sequestration hubs across the province, together with for the oil sands.

WHAT ABOUT FUEL?

The most highly-polluting Canadian industries are oil and gas and transportation. Each contributes about one-quarter of the nation’s emissions.

Canada expects to finalize its Clean Fuel Standard regulation this summer season. It would require refiners and gasoline importers to cut back the carbon depth of gasoline and diesel by 13% beneath 2016 ranges by 2030, with the choice of producing tradeable credit in the event that they do greater than required.

WHERE DO ELECTRIC VEHICLES COME IN?

The Canadian authorities requires all new vehicles and passenger vans to produce zero emissions by 2035 and is serving to fund expanded manufacturing and processing of important minerals wanted to make electrical autos.

Reporting by Rod Nickel in Winnipeg
Editing by Denny Thomas and David Gregorio

Our Standards: The Thomson Reuters Trust Principles.

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