Canada unveils carbon emissions offset market
Canada unveiled on June 8th, 2022 a national carbon emissions market to help it meet its climate goals by allowing cities, farmers and others to sell credits for CO2 reductions to heavier polluters.
Under the system, registered participants can generate one credit for each tonne of emissions they reduce or remove from the atmosphere.
Credits can then be sold to others in Canada to help them meet compliance obligations or emissions reductions goals.
“This system gives foresters, farmers, Indigenous communities, municipalities and others an opportunity to earn revenues by cutting pollution,” Environment Minister Stephen Guilbeault told a news conference.
“Offsets don’t stop carbon from entering the atmosphere and warming the planet, but on paper they make the big polluters look good,” Greenpeace’s Salome Sane said in a statement.
Ottawa has pledged to reduce Canada’s carbon emissions by up to 45 percent below 2005 levels by 2030.
Read more about this issue and other related climate change issues on phys.org