Oil, gas companies told to cut emissions by one-third under planned cap
- Canadian oil and gas producers must reduce greenhouse gas emissions by about one-third over the next eight years, according to new regulations from Environment Minister Steven Guilbeault.
- The emissions target requires operations to fall to 35 percent less than 2019 levels by 2030-2032, with half the cuts likely coming from methane reductions.
- The regulations are in draft format, could strain relations between Ottawa and Alberta, and do not require production cuts.
64 Articles
64 Articles
Ottawa has announced that it wants to reduce emissions from its hydrocarbon sector by about 30% by 2030. The government plans to introduce a cap-and-trade system for carbon credits but not to reduce productionCanada announced on Monday that it wanted to reduce emissions from its oil and gas sector by a third as early as 2030 by implementing a carbon credit cap and trade system, but not reducing production.The objective of the system, which would…
Ottawa Introduces Regulations Requiring Oil and Gas Companies to Cut Emissions by One-Third
Oil and gas companies will be required to reduce emissions by one-third by the year 2032 under new regulations announced on Nov. 4 by Environment Minister Steven Guilbeault. The draft regulations call for upstream oil and gas operations to lower their greenhouse gas emissions by 35 percent below 2019 levels sometime between 2030 and 2032. The regulations will be published on Nov. 9 and be open for consultation until Jan. 8, 2025, while the final…
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