HALIFAX – Nova Scotia has tabled legislation for an emissions-reduction plan that would replace the province’s cap-and-trade system for large industrial greenhouse gas emitters.
Environment Minister Tim Halman says the change to the Environment Act would create a pricing system based on greenhouse gas output, adding that the new program would also include targets and performance standards to be set out in regulations.
Halman says Environment and Climate Change Canada has given the “green light” to the province’s plan to replace the cap-and trade-system, which expires at the end of the year.
Halman says the new system — which still needs approval from the federal cabinet — is scheduled to begin Jan. 1.
Nova Scotia submitted the plan to the federal department in early September, but the plan did not include a carbon tax, which Ottawa can still impose on the province.
Participation in the province’s new system would be mandatory for Nova Scotia Power and the Lafarge cement plant near Truro, N.S. — as they both emit at least 50,000 tonnes of greenhouse gases annually — and would be optional for other companies below that threshold.
This report by The Canadian Press was first published Oct. 18, 2022.
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