GHG emissions from industrial emitters will be reduced and a new fund for clean technology will be established through the government’s Management of Greenhouse Gas Act. The act will reduce GHG emissions in the province through a form of carbon pricing. The legislation provides for two years of emissions monitoring to help form reduction targets. In addition, a fund will be established to support emissions-reduction technology, which will give companies the flexibility to achieve emissions reductions at lower cost, while supporting projects that will help the province meet its GHG target. Large industrial companies in Newfoundland and Labrador account for 43% of GHG emissions.