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Canada Imposes Emissions Cap on Oil-and-Gas Industry

Updated Dec. 7, 2023 12:54 pm ET

TORONTO—The Canadian authorities mentioned it might use a cap-and-trade system to impose greenhouse gasoline emission limits on its oil-and-gas trade, making Canada one of many first main international oil producers to impose emissions limits on its vitality trade.

Under what the federal government described Thursday as a “draft framework” that may be finalized in 2025, Canada will situation emissions allowances to oil-and-gas producers, which will likely be capped at a degree between 35% and 38% under 2019 ranges, starting in 2030. The authorities will then maintain decreasing allowances in levels till the trade reaches web zero by 2050.

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