Please note, although this news announcement from Environment Canada does not reference Carmanah directly, it outlines an important move by the Canadian Government that could positively impact the Canadian market for the Company’s renewable and energy-efficient technologies.
OTTAWA, August 11, 2005 – The Government of Canada took another step to honour our Kyoto commitment today, proposing a set of rules for a domestic offset credit system, which will reward innovation and provide incentives to reduce greenhouse gas (GHG) emissions.
As promised under Moving Forward on Climate Change: A Plan to Honour Our Kyoto Commitment, the Government today issued a consultation paper setting out the system’s proposed rules. Following consultations with provinces, territories, industry and Aboriginal groups, the system will begin operating early in 2006. Other public comments on the consultation document are invited until September 30, 2005.
“Enacting this system is a major step forward for our climate change plan,” said the Honourable Stéphane Dion, Minister of the Environment. “Consultations will maximize its effectiveness in directing innovation to reduce greenhouse gas emissions for cleaner air, a healthier environment and a strong, sustainable, competitive economy.”
The proposed system will encourage innovative Canadian projects that use new practices and technologies to reduce greenhouse gas emissions. Examples include:
Companies, governments, organizations or citizens undertaking such projects – provided they meet the criteria to be finalized following consultations –
will be awarded credits. In turn, these credits may be sold to:
As a key part of the Canada climate change plan, the Offset System represents further progress under Project Green, a set of policies and programs aimed at supporting a sustainable environment and a more competitive economy.
Along with climate change, it will address a range of environmental issues, including biodiversity, water, contaminated sites and clean air. Project Green’s groundwork was established by the October 2004 Speech from the Throne and Budget 2005. Moving Forward on Climate Change: A Plan for Honouring our Kyoto Commitment, is Project Green’s first instalment.
Visit www.climatechange.gc.ca to download Moving Forward on Climate Change: A Plan to Honour Our Kyoto Commitment, as well as the offset credit systemconsultation documents.
For more information, please contact:
Director of Communications
Office of the Minister of the Environment
Senior Media Relations Officer