NAFTA partners eye continental carbon scheme

From The Globe and Mail: “The United States has agreed to work with Canada and Mexico to develop a North American carbon market that would allow Canadian emitters to meet some portion of their targets through purchasing credits in the vast NAFTA marketplace. The agreement by leaders from the three countries could help keep down compliance costs for Canadian emitters, while expanding the market for renewable energy companies and others that create carbon credits with projects in Canada. “This is the first time the three North American leaders have been together and have started to flesh out the elements of a continental approach to this,” Environment Minister Jim Prentice said in a telephone interview.”

“A declaration signed by Prime Minister Stephen Harper, U.S. President Barack Obama and Mexican President Felipe Calderon in Guadalajara on the weekend committed the three governments to work together on climate-change issues, including co-operating on the construction of their emissions-trading systems. Both Canada and the United States are vowing to implement national caps that would force industries to either cut emissions or purchase allowances. Both governments have indicated they will allow companies to meet some portion of their regulated limits through the purchase of “offset” credits, which are generated by renewable energy plants, reforestation projects, and environmentally friendly agricultural practices.” NAFTA partners eye continental carbon scheme

This entry was posted in Environment, News & Info, Professional Communications and tagged , , , , , , . Bookmark the permalink.

Comments are closed.