Canada proposes draft regulations to cap oil and gas emissions at 35% below 2019 levels

theglobeandmail.com November 4, 2024, 03:01 PM UTC

The Canadian government has released draft regulations to cap greenhouse gas emissions from the oil and gas sector at 35% below 2019 levels. This is a slight reduction from the previously proposed 38% target.

The new rules will establish a cap-and-trade system to reward companies that perform better and encourage higher-polluting firms to reduce emissions.

Consultations on the draft regulations will take place from November 9 to January 8, 2025, with a final version expected later that year. The government emphasizes that the regulations focus on limiting pollution, not production.

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