On May 15, 2015, the federal government announced that it will commit to reducing its greenhouse gas emissions by 30 per cent below 2005 levels by 2030. New regulations for Canada’s oil and gas sector, as well as regulations on natural gas electrical plants, will be introduced. Canada’s Environment Minister, Leona Aglukkaq, stated that she will be meeting with provincial environment ministers in June to discuss potential avenues to reduce emissions.
The 30 per cent target is a significant increase over Canada’s current target to reduce emissions by 17 per cent below 2005 levels by 2020. To put the 30 per cent reduction into perspective, according to recent reports, Canada will have to reduce its emissions from the 726 megatons emitted in 2013 to 515 megatons in 2030 in order to meet its target. In comparison, the United States has pledged to cut its emissions by 26 to 28 per cent from 2005 levels by 2025. Additionally, Mexico has pledged to cut emissions by 25 per cent by 2030 and the European Union has agreed to reduce its emissions on 1990 levels by 40 per cent by 2030.
To meet its goal, Canada will have to rely heavily on the provinces to reduce emissions within their own boundaries.
JoAnn Jamieson and Mark Graham -LAWSON LUNDELL LLP – June 4th, 2015
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