Provincial government announces incentive program for large carbon emitters; local impact not immediately known
MEDICINE HAT, AB — The provincial government has announced a new incentive program aimed at forcing large emitters to reduce their emissions, though the exact details about the local impact is not yet known.
The Carbon Competitiveness Incentive program was announced Wednesday by Environment Minister Shannon Phillips. The incentive will reward companies, such as oil sands, cement and fertilizer operators that invest in technology to reduce their carbon dioxide emissions to 100,000 tonnes per year.
The rules come into effect on January 1st, 2018. Industry will only have to pay 50 per cent of the costs next year, moving to 75 per cent for 2019, before the full regulations take force by 2020. The immediate goal is 20 million megatons of emissions province wide by 2020.