Canada Wants North American Cap-And-Trade System
Date: 20-Nov-08
Country: CANADA
The announcement marks an apparent policy shift for the Conservatives, whose current approach to climate change centres on cutting the intensity of emissions rather than imposing outright curbs.
"We will work with the provincial governments and our partners to develop and implement a North America-wide cap and trade system for greenhouse gases," the government said in a major policy statement.
The Conservatives made the announcement in the wake of the US presidential election on Nov 4, which Democrat Barack Obama won convincingly. Obama favours much tougher greenhouse gas reduction targets than those set by the Conservatives, and says he will start a cap and trade system.
Canadian Environment Minister Jim Prentice said last week that he felt a cap and trade system and an intensity-based approach could function together.
There are many obstacles in the way of a proposed North American cap and trade deal, not the least of which is whether Obama would support the idea or back Canada's targets.
The Canadian statement also mentioned the need for negotiations with the country's 10 provinces -- a process which could drag out for many months.
Ottawa also said it would set an objective that 90 percent of Canada's electricity needs by 2020 should be met "by non-emitting sources such as hydro, nuclear, clean coal or wind power".
The statement said Ottawa would reduce various regulatory barriers to make it easier to build natural gas pipelines into the North, which has rich reserves.
(Reporting by David Ljunggren; Editing by Peter Galloway)