New Brunswick proposes plan to reduce greenhouse gas emissions by industry
This "made in New Brunswick" alternative promises to reduce greenhouse gas emissions from large industrial emitters by 10% by 2030
FREDERICTON – New Brunswick is bringing forward a plan it says will reduce greenhouse gas emissions from large industrial emitters by 10% by 2030.
Environment Minister Jeff Carr says the proposed output-based pricing plan is a “made in New Brunswick” alternative to the federal backstop carbon-pricing system Ottawa said it would impose last fall.
The backstop requires large industrial plants that exceed average emissions in their sectors to pay levies, while those that stay below that average can earn credits that can be sold to emitters that are above.
Carr says the federal regime puts his province at a competitive disadvantage when it comes to its neighbours and his government’s plan is “fair, cost-effective, and flexible.”
Similar to Ottawa’s plan, the province will set a regulatory standard for large emitters that would see them pay if they are over and earn credits if they are under – something it says will reduce greenhouse gas emissions by 420,000 tonnes by 2030.
However the New Brunswick plan will deal with individual plants as opposed to entire sectors. Carr says the government is seeking public comment on the plan until July 12 and will submit a final proposal to the federal government by the end of July.