Looks like the Conservatives are poised to resurrect the large final emitters emissions trading scheme. Yesterday, Environment Minister John Baird told reporters that he is preparing to impose emissions intensity targets on industry, apparently "among the most aggressive in the world." The LFE scheme was also based on emissions intensity targets, which, as CANet noted, have a big weakness - they don't provide an absolute limit on industry emissions. If industry grows faster than anticipated, then emissions can grow with the industry, wiping out any absolute reductions.
The one possibly positive thing in this announcement- talk of aggressive targets. Hopefully the Conservatives will want to announce that they've gone beyond the targets previously set under the Liberals...given their political base, though, I suspect that this won't happen. More likely is that they will delay mentioning sectoral targets and hope that the public can't be bothered to figure out the details.
Link to Globe article.
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