Oil and gas producers in Canada will be required to cut greenhouse gas emissions by about one-third over the next eight years, Minister of Environment Steven Guilbeault, Minister of Energy Jonathan Wilkinson and Minister of Employment Randy Boissonault announced in Ottawa on Monday.
The draft regulations, set to take effect in 2026 with the first reporting period scheduled for 2030, come as the Alberta government recently launched a $7-million advertising campaign to “scrap the cap.”
Pointing to the oil and gas sector accounting for nearly a third of Canada’s emissions, Guilbeault said that the regulations will help cut pollution by 35 per cent below 2019 levels. Saying that the regulations go “after pollution, not production,” Guilbeault said these steps would help “keep the industry accountable” to their commitment of being carbon neutral by 2050.
Wilkinson also framed the regulations as addressing “not just an environmental issue,” but a “competitiveness” one. “As the world moves to reduce emissions generated by the production and the combustion of fossil fuels, oil and gas extracted with the lowest production emissions will have value in the world,” he said.
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