The federal government announced its regulatory framework for reducing emissions in the oil and gas sector on Thursday.
The Liberal government says the “cap and trade” system will cap emissions in 2030 by 35 to 38 per cent below 2019 levels in an effort to reach net zero in the sector by 2050.
Canada’s oil and gas sector is responsible for about 28 per cent of the country’s emissions.
Ali Hyder Ali is a spokesperson for Environmental Defence, an environmental advocacy organization.
Premiers from Alberta and Saskatchewan were quick out of the gate to voice their concerns with the proposed framework – worried that the system would weaken their provincial economies.
Minister of Natural Resources Jonathan Wilkinson defended the government’s plan on Wednesday in the House of Commons.
The government says the new framework will cap emissions in 2030 by 35 to 38 per cent below 2019 levels.
The goal is to reach net zero in the oil and gas sector by 2050.
Hyder Ali applauded the government’s announcement Thursday, but cautioned that time is of the essence.
The government says it plans to publish draft regulations by the middle of next year, and have the system up and running by 2026.
Written by: D. Corrigan
