The Canadian Minister of Environment and Climate Change Catherine McKenna has announced that the governments of Canada and Nova Scotia have agreed to price carbon pollution and will be working together to negotiate a new equivalency agreement on the accelerated coal phase-out.
McKenna said: “We are extremely pleased that the province of Nova Scotia intends to implement a cap-and-trade system as its approach to pricing carbon pollution.
“Their proposed approach ensures that Nova Scotia will remain a leader in contributing to Canada’s international emissions-reduction target under the Paris Agreement.
“We will be working on an updated equivalency agreement on the accelerated coal phase-out in order to recognise Nova Scotia’s strong action on reducing greenhouse gas (GHG) emissions.
“Today’s announcement demonstrates our commitment to a collaborative, productive approach to clean growth and climate change and we will continue working with all provinces and territories to build the low-carbon economy of the future.”
As part of the new agreement, Nova Scotia will be implementing a cap-and-trade system for pricing carbon pollution, which aligns with a pan-Canadian approach announced earlier this year.
Nova Scotia will also be adopting a province-wide target, which meets or surpasses Canada’s target of reducing emissions by 30% by 2030.
The Canadian Government also revealed their plans to help accelerate the process of phasing-out traditional coal-fired electricity units.
The new plan will involve accelerating the timelines in existing regulation under the Canadian Environmental Protection Act, 1999 (CEPA).
Nova Scotia is also willing to enter into an updated equivalency agreement with the Government of Canada under section 10 of CEPA, for these new requirements.
