NEW! NS Government creates cap-and-trade program
Amendments to the Environment Act allow the Nova Scotia government to create a cap-and-trade program and the regulations to support it. The amendments, released on November 14, detail how the program will run. For example, they establish:
- annual declining greenhouse gas emissions caps; and
- rules for distributing, buying, and selling GHG emission allowances.
Who is required to report emissions and participate in cap-and-trade?
The following types of companies must report their GHG emissions, get them verified by a third party, and participate in the cap-and-trade program:
- Facilities that generate 50,000 tonnes of GHG emissions or more per year from one or more specified activities
- Petroleum product suppliers that first place or produce 200 litres of fuel or more per year for consumption in the Nova Scotia market
- Natural gas distributers that deliver natural gas for consumption in Nova Scotia that, when combusted, produce 10,000 tonnes of GHG emissions or more per year
- Electricity importers with 10,000 tonnes of GHG emissions or more per year from imported electricity consumed in Nova Scotia
Reporting regulations
The rules for reporting GHG emissions are outlined in:
- Quantification, Reporting, and Verification of Greenhouse Gas Emissions Regulations
- Amendments to Quantification, Reporting, and Verification of Greenhouse Gas Emissions Regulations
- Standards for Quantification, Reporting, and Verification of Greenhouse Gas Emissions
How to report
Companies must submit GHG emissions reports and any additional information listed in the regulations and standards to Nova Scotia Environment at GHGreporting@novascotia.ca.
Greenhouse gas emissions reports must be verified by an accredited third-party organization. Lists of eligible verification bodies are available at:
Reporting deadlines
In 2019, the deadline for submitting GHG emissions reports and verification statements are:
- June 1, 2019 – report for 2018
- September 1, 2019 – verification for 2018
Starting in 2020, GHG emissions reports and verification statements/reports will be due on May 1.
- May 1, 2020 – report and verification for 2019
- May 1, 2021 – report and verification for 2020
- May 1, 2022 – report and verification for 2021
- May 1, 2023 – report and verification for 2022
Impact
The Nova Scotia government says its cap-and-trade program will have some economic impacts while encouraging innovation and enhancing competitiveness to the benefit of Nova Scotia’s economy. It also says its cap-and- trade program is designed to reduce emissions at the lowest cost to companies and consumers. The province says it will work with stakeholders to lower costs and increase benefits while ensuring there is flexibility so that companies can seize the innovation and economic opportunities that arise. It adds that the proposed program will require participation as appropriate and will not target individual small businesses directly.
Registration
Participating companies must register for the cap-and-trade program in the Compliance Instrument Tracking System Service (CITSS) by March 31, 2019.
For more information on the Nova Scotia Cap and Trade program, visit: Climate Change Nova Scotia.
For all other questions or information, please contact Jean-Francois Duguay, Director, Government Relations for Atlantic Canada at 506-480-0275 or jeanfrancoisduguay@propane.ca.
