Policy status:Planned
Date Effective:2003
Policy Type:Regulatory Instruments
Policy Target:
Agency:Environment Canada
Description:On 21 November, 2002, the Government of Canada released the Climate Change Plan for Canada, which proposes that targets for emissions reductions -- totalling 55 Mt -- be established for large final emitters (LFEs) through covenants with a regulatory or financial backstop. To provide (LFEs) with flexibility in achieving their targets, the Plan proposes access to emissions trading, domestic offsets, and international permits. An offset system would provide a market incentive for the identification and development of projects that reduce GHG emissions not covered under the covenants system. Consequently, offsets would provide LFEs with a low-cost means of achieving compliance with their targets by providing an alternative to domestic abatement action, or the purchase of domestic or international permits. During the month of June 2003, representatives of the Government of Canada met with officials from the provinces and territories, municipalities, and other key stakeholders to discuss designoptions for a Canadian offset system for greenhouse gases (GHGs).

Last modified: Fri, 13 Jul 2012 16:04:01 CEST