Canada proposes sharp cut in oil and gas sector emissions by 2030

Quick Summary:

Producers will be required to start reporting their emissions from 2026, and the first three-year compliance period will run from 2030 to 2032.

Most of the emissions reductions are expected to come from cutting methane pollution and a proposed oil sands carbon capture project, federal Natural Resources Minister Jonathan Wilkinson said.

Ottawa said oil and gas production is still expected to grow 16 per cent from 2019 levels by 2030-2032 even with the emissions cap in place, and there would only be a 0.1 per cent reduction in Canadian GDP as a result.

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Article Details

Category: BusinessFinance

Markets: IndiaCanada

Topics: Canada Oil and gas reserves Climate plan Justin trudeau

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-05 @ 10:32:04 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 747 words

Reading Time: 5 minutes read

Sentences: 21 lines

Sentence Length: 36 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23422997

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