IISD Welcomes Draft Regulations for Oil and Gas Pollution Cap

The IISD welcomes the Government of Canada's draft regulations for an oil and gas pollution cap to drive the sector toward net-zero by 2050, but warns that a proposed 'decarbonization program' creates a loophole for double-counting emissions reductions. The IISD advocates for the exclusion of international offsets and the implementation of a robust, loophole-free cap by early 2025.

• The Government of Canada has released draft regulations for a cap-and-trade system to limit greenhouse gas (GHG) emissions from the oil and gas sector, which currently accounts for 31% of Canada's total emissions and is growing annually. The IISD argues that a firm cap is necessary to provide industry certainty for decarbonization investments and to ensure the sector reaches net-zero by 2050.
• IISD identifies a 'decarbonization program' in the draft regulations as a loophole that risks the double-counting of emissions reductions and urges its removal. The organization also supports the decision to exclude international carbon offsets from the draft regulations and recommends that any domestic offsets used must be verifiable, additional, and real.
• IISD asserts that while industrial carbon pricing has incentivized reductions in emissions intensity, it has not been sufficient to lower the sector's overall emissions curve. The organization calls for the government to finalize the pollution cap regulations in early 2025.

APA

International Institute for Sustainable Development (2024). IISD Welcomes Draft Regulations for Oil and Gas Pollution Cap. https://www.iisd.org/articles/statement/iisd-welcomes-draft-regulations-oil-and-gas-pollution-cap

Chicago

International Institute for Sustainable Development. IISD Welcomes Draft Regulations for Oil and Gas Pollution Cap. 2024. https://www.iisd.org/articles/statement/iisd-welcomes-draft-regulations-oil-and-gas-pollution-cap.

Wikipedia

{{cite press release |author=International Institute for Sustainable Development |title=IISD Welcomes Draft Regulations for Oil and Gas Pollution Cap |date=4 November 2024 |url=https://www.iisd.org/articles/statement/iisd-welcomes-draft-regulations-oil-and-gas-pollution-cap |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{internationalinstituteforsustainabledevelopment2024iisd, author = {{International Institute for Sustainable Development}}, title = {{IISD Welcomes Draft Regulations for Oil and Gas Pollution Cap}}, publisher = {International Institute for Sustainable Development}, year = {2024}, month = nov, url = {https://www.iisd.org/articles/statement/iisd-welcomes-draft-regulations-oil-and-gas-pollution-cap}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }