This policy brief argues that Canada's proposed oil and gas emissions cap is needed but cautions that some of the proposed compliance flexibilities may—instead of making the cap easier to achieve—amount to avenues for weakening it. In particular, the brief cautions that the proposed use of internationally transferred mitigation outcomes (ITMOs) and a Decarbonization Fund are ill-advised and that the use of domestic offsets needs to be approached with caution.
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- Pages
- 13
- Published in
- Canada
- Rights
- IISD, 2024
Table of Contents
- The Proposed Cap 1
- Figure 1. 2
- The proposed emissions cap 2
- Canada Needs an Ambitious Oil and Gas GHG Emissions Cap 2
- The Ambition of the Cap May Be Scuttled by Flexibilities 3
- Figure 2. 4
- Potential emission reductions by 2030 4
- The Decarbonization Fund Would Weaken the Emissions Cap 5
- Domestic Offsets Are Risky 6
- ITMOS Are the Riskiest of All 7
- Reason 1 8
- Article 6.2s lax rules create particularly high risks for LNG export deals because the logic of our LNG exports actually reducing emissions elsewhere is dodgy. 8
- Reason 2 9
- It is a step down a slippery slope. 9
- Reason 3 9
- It risks being a massive subsidy to Canadian oil and gas. 9
- Reason 4 9
- Reputational damage. 9
- Conclusions 10
- References 10
- Emissions Reduction and Energy Development Plan. 10
- Canadas LNG opportunity A value proposition worth celebrating. 10
- How additional is the Clean Development Mechanism 10
- CER Canadas energy future 2023 Energy supply and demand 10
- Clearing the air How Canadian LNG exports could help meet 10
- Potential economic impact of the proposed federal oil and gas emissions cap. 11
- Switzerland and Ghana sign a climate-friendly rice deal under Paris 11
- Agreement. 11
- List of recognized offset 11
- Canadas Greenhouse Gas 11
- Offset Credit System. 11
- Regulatory framework for an oil and gas sector 11
- Blaine Higgs pitches exporting LNG as alternative to carbon tax. 11
- One Earth 6 11
- How Article 6 could help our LNG exports. 11
- LNG exports and carbon credits Credits where credit is due. 11
- Burning bridge Debunking LNG as a climate solution. 11
- Energy Science Engineering. 11
- Journal of Cleaner Production 347 12
- Waiting to launch 2023 mid-year update. 12
- Meeting the emissions cap A feasible pathway for the oil and gas 12
- College of 12
- Natural Resources News. 12
- Journal of Cleaner Production 258 12
- Western Premiers focus on the 12
- How to have it all LNG a green economy and reconciliation. 12
- 440 Megatonnes Tracking Canadas Path to Net Zero. 12
- Nature Sustainability 12
- Bloomberg. 12
- Head Office 13
- Tel Website 13
