- Jul 17, 2002
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The emissions are not even close to our kyoto commitments, but if we are going ahead with this, I like how the government is making it flexible for companies to conform to this policy.
Source
Source
Ottawa sets 15% greenhouse-gas cut for big companies
Last Updated Fri, 15 Jul 2005 19:18:06 EDT
CBC News
The federal government wants about 700 big companies to cut greenhouse gas emissions by 15 per cent in 2010, compared with a business-as-usual case, it said Friday.
The government published a proposal for cutting greenhouse gas emissions at the companies ? in mining and manufacturing, oil and gas, and thermal electricity generation ? as big business's obligation to cut 45 megatonnes (45 million tonnes) of emissions by 2008 to 2012.
Ottawa, which will talk with provinces and territories about the plan, wants new regulations covering what it calls LFEs ? large final emitters ? to be in place by Jan. 1, 2008.
It said it is considering fines of $200 a tonne for companies that miss their targets. Compliance costs will be capped at $15 a tonne, which implies a total cost of $675 million for 45 megatonnes.
The 15-per-cent cut is a reduction per unit of output. Companies that can't cut emissions with existing technology will not have to make any reductions.
Companies can meet their targets by :
* Cutting emissions.
* Paying into special technology funds that will research emissions cuts.
* Buying credits from companies or countries that have exceeded their targets.
Companies that do better than required could bank or sell credits in a market that is expected to develop.
Ottawa said regulatory costs may be set so there will be a minimum threshold for companies to be covered.
The 700 companies represent nearly half of total Canadian greenhouse gas emissions.
Canada's target is to cut emissions by 270 megatonnes.
