Canada to Curb Oil, Gas Emissions With Cap-and-Trade Regime
- Long-awaited guidelines to be announced at COP28 in Dubai
- Plan is key to Trudeau’s goal of reaching net zero by 2050
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Canada plans to limit emissions from the country’s oil and gas industry using a cap-and-trade system, a policy that will become a cornerstone of Prime Minister Justin Trudeau’s efforts to help curtail global warming and is almost certain to meet resistance in the western provinces.
Environment Minister Steven Guilbeault is set to announce the new energy-sector emissions rules on Thursday at the COP28 climate summit in Dubai, according to people familiar with the plan, asking not to be named because the matter is still private. Energy and Natural Resources Minister Jonathan Wilkinson will participate in the announcement from Ottawa.