On September 29, 2017, Nova Scotia Environment Minister Iain Rankin introduced Bill 15 to amend the Environment Act, enabling the government to establish a cap and trade program and create supporting regulations.
The Cap and Trade program was developed in support of the Pan-Canadian Framework on Clean Growth and Climate Change.
You can follow the progress of Bill 15 through the legislative process at http://nslegislature.ca/index.php/proceedings/status-of-bills.
The amendments are flexible and consider the potential for future changes. For example, while Nova Scotia currently plans to allow emissions trading only within the province, a provision is included to allow linking with other programs in the future.
Regulations, yet to be developed, will include setting a province-wide greenhouse gas target for 2030, setting caps, distributing emission allowances, setting penalties, enabling trading of emission allowances, requiring companies to monitor and report specific information, and creating a Green Fund to support climate change initiatives and innovations. The government is planning consultations on the regulations but encourages feedback at any time.
Additional information on Nova Scotia’s cap and trade program is available on the Climate Change Nova Scotia website. Questions can also be directed to CPA’s Director, Government Relations, Quebec and Atlantic Canada, Jean-Francois Duguay at jeanfrancoisduguay@propane.ca or 506-480-0275.