Nov. 21: Province to Develop Cap-and-Trade System

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Nova Scotia will implement a cap-and-trade system that aligns with the federal government’s announcement of a pan-Canadian approach to pricing carbon pollution. The province will also adopt a province-wide target that meets or exceeds Canada’s target of reducing emissions by 30%, from 2005 levels, by 2030. The cap-and-trade system will place declining caps on emissions from the electricity sector and other sources of carbon-fuel combustion. It’ll also provide for trading of emission reductions within the province, letting emitters reduce emissions at the least cost and ensuring that all revenues from the system stay in the province.