Carbon-pricing system for large emitters one step closer08 October 2021
FREDERICTON (GNB) – The provincial government has posted the proposed Reporting and Reduction of Greenhouse Gas Emissions Standard to support its output-based pricing system for large emitters, for public review and comment.
Since Jan. 1, 2019, large emitters of greenhouse gases in New Brunswick have been subject to the federal system while a provincial one was being developed.
The federal government approved in principle the province’s system in September 2020. Changes to the province’s Climate Change Act, which were necessary to make the transition from the federal system to the provincial one, were introduced in November 2020.
In June 2021, the provincial government published the Reduction of Greenhouse Gas Emissions Regulation under the Climate Change Act to provide supporting information for the output-based pricing system.
The standard posted today is intended to further support the legislation and regulation.
The New Brunswick output-based pricing system will drive incremental greenhouse gas reductions in the province’s industrial and electricity generation sectors. Facilities that emit 50,000 tonnes or more of greenhouse gas emissions annually will be required to participate in the system. Facilities that emit between 10,000 tonnes to 50,000 tonnes may voluntarily opt-in.
The provincial government anticipates fewer than 20 facilities will participate in the system.
“We have proven that we are committed to reducing our carbon footprint,” said Environment and Climate Change Minister Gary Crossman. “Having our own system will reduce our carbon emissions while recognizing that our economy is heavily dependent upon trade.”
New Brunswick is a national leader in lowering emissions, having reduced emissions by 38 per cent since 2005. The province has a 2030 target of 10.7 megatonnes, which is equivalent to a reduction of 47 per cent below 2005 levels.
The public review and comment period for the proposed standard will be from Oct. 8 to Nov. 5. Comments on the proposal can be sent to NBOBPS-STFRNB@gnb.ca.