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Canada to reveal proposed emissions cap on oil and gas sector on Monday

Canada will on Monday reveal the information of its longawaited plan to cap emissions of greenhouse gases from the oil and gas sector, an idea which the energy industry and some provinces highly oppose.

Canada said in December 2023 it desired oil and gas business to cut emissions approximately 38% from 2019 levels by 2030 by presenting a cap-and-trade system, and would unveil its draft propositions before the end of 2024.

A government announcement released on Sunday stated details of the draft strategy would be released at 1 pm (1800 GMT) on Monday.

The regulations would cap contamination, not production, Hermine Landry, a spokesperson for Environment Minister Stephen Guilbeault, stated in a declaration.

The Liberal government of Justin Trudeau has actually long made fighting environment modification among its primary priorities.

Canada, the world's fourth-largest oil producer, is

intending to cut emissions

40% to 45% below 2005 levels by 2030. The sector is

Canada's highest-polluting industry

, representing more than a quarter of all emissions.

The Canadian oil and gas sector is among the just sectors where contamination levels continue to increase, with more than double the greenhouse gas contamination than all other markets combined. Every sector needs to do its reasonable share, Landry said.

Two of the main oil-producing provinces, Alberta and Saskatchewan, in addition to market groups, have long said a cap was unnecessary.

(source: Reuters)