Canada proposes new regulations to cut energy sector emissions by 35% from 2019 levels

Canada's government has proposed new draft regulations to reduce greenhouse gas emissions from the oil and gas sector by 35% below 2019 levels. This is a slight decrease from the previous target of 38%. The regulations will establish a cap-and-trade system to encourage lower emissions among companies. The government aims to set clear pollution limits while allowing for production growth. Consultations on the draft regulations will take place from November 9 to January 8, 2025, with the final version expected to be published in 2025.