Canada introduces emissions cap for oil and gas sector to cut greenhouse gases

nzherald.co.nz — November 5, 2024, 02:01 AM UTC

Canada has proposed a new cap-and-trade system for greenhouse gas emissions in the oil and gas sector. This system aims to reduce emissions by 27% below 2026 levels or 35% below 2019 levels over several years.

The oil and gas sector is a major contributor to Canada's CO2 emissions, accounting for 31% of the total in 2022. The government emphasizes that reducing emissions in this sector is essential for meeting climate goals.

Some oil-rich provinces, like Alberta, and business groups oppose the measures, arguing they could restrict production. The government maintains that the plan is necessary for addressing climate change.

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[5.3]
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[5.6]
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[5.1]
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[5.2]
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