This article explores the climate plans and targets of the Canadian government. We’ll look at Ottawa’s “2030 emissions reduction plan,” the long-term goal to become carbon neutral by 2050, the carbon tax, and the clean fuel standard. We’ll also explore the implications of each policy.
Ottawa’s new “2030 emissions reduction plan”:
The federal government’s new “2030 emissions reduction plan”, released on March 30, highlights several goals that must be met by 2030. They include electrifying more vehicles and reducing carbon pollution from the oil and gas sector. As oil and gas extraction is one of Canada’s most significant sources of greenhouse gases, these goals will be a major step toward reducing emissions.
Long-term goal to reach net-zero emissions by 2050:
Canada’s long-term goal to reach a net-zero emissions economy by 2050 is an important step in avoiding the worst effects of climate change. Governments, businesses, and society alike are increasingly looking to transition to a more sustainable economy. As a result, Canada’s climate legislation is becoming more stringent.
To achieve net zero, fossil fuel consumption must decrease dramatically. By 2050, fossil fuels will account for less than a fifth of the total energy supply. But these fossil fuels are still used in many sectors, especially those where carbon is embodied in the product.
Carbon tax:
The government has announced plans to introduce a carbon tax to help Canada meet its climate targets. The new tax will be based on GHG emissions and will increase yearly until 2030. Under the plan, Canada will have to cut its emissions by at least 30% below 2005 levels. Provinces can also opt to implement a cap-and-trade system to offset the cost of carbon.
Clean fuel standard:
The Clean fuel standard is part of Canada’s climate plans and targets and will gradually reduce carbon emissions in the country’s energy mix. It will enter into force in 2022, requiring liquid fuel suppliers to lower their carbon intensity and shift their business toward cleaner energy sources. The objective is to help Canada tackle climate change while simultaneously growing Canada’s clean fuels industry.
Energy efficient economy:
An energy-efficient economy is one of Canada’s top priorities in meeting its climate goals. The country’s large industrial sector contributes a high percentage of its emissions. In 2014, Canada’s industrial sector accounted for 37 percent of the nation’s total emissions, mostly from the oil and gas industry. And these emissions are expected to rise over the next few decades, especially as demand for Canadian goods and services rises.
