Federal approval received for provincial output-based pricing system27 April 2021
FREDERICTON (GNB) – A made-in-New Brunswick output-based pricing system received federal approval retroactive to Jan. 1, 2021.
“With this plan, we can continue to reduce greenhouse gas emissions while maintaining New Brunswick’s competitiveness as our province enters a phase of economic recovery and growth post-pandemic,” said Environment and Climate Change Minister Gary Crossman. “Our output-based pricing system will provide significant cost relief, compared to the current federal system, for facilities which are classified as large emitters.”
Under the new provincial system, large industrial emitters will be required to reduce their greenhouse gas emissions intensity by 10 per cent by 2030.
In June 2019, the provincial government released Holding Large Emitters Accountable: New Brunswick’s Output-Based Pricing System. This policy proposal, which was submitted to the federal government for approval in July 2019, received approval fourteen months later in September 2020.
“Now that we have a start date, we will ensure that there is a smooth transition for industry from the federal to the provincial system,” said Crossman.
The most recent National Inventory Report shows that New Brunswick has reduced greenhouse gas emissions by 38 per cent below 2005 levels, a four per cent improvement over the previously reported 34 per cent.