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NS Division of Canadian Manufacturers & Exporters Applauds Governments for Practical Approach to Climate Change

Published by Marie Morden on November 22, 2016

CME Vice President Mitch Raymond said the agreement reached yesterday meets the business group's main concern - Nova Scotians will not be paying once for the actual cost of reducing greenhouse gas emissions and paying a second time through a carbon tax.

"Paying twice through a carbon tax on electricity would have hurt businesses and other consumers, but it would have likely forced new long term investments in other forms of fossil fuels. Using a new cap and trade system will help us go directly to clean energy from coal over the next 25 years" said Raymond.

The agreement in principle announced yesterday commits Nova Scotia to establishing new caps on the greenhouse gas emissions (GHG's) that contribute to global climate throughout the energy sector. However the caps will be given to industry and thus will be less costly than a carbon tax. The caps will then decline on a schedule that will ensure real reductions. Business in Nova Scotia that fail to meet the reduction requirements will be able get credits from Nova Scotia business's that have exceeded their obligations. Nova Scotia Power will not be required to close coal plants until they reach the ended of their scheduled life, but after 2030, they will need to reach the same GHG reductions that would have occurred if they had closed them. Details on the new system are under development and the CME welcomes the Province's offer to engage with industry on the design of the new system.

Raymond said "We congratulate the federal government for listening and adopting a made in Nova Scotia solution. Nova Scotia businesses are already shrinking our carbon footprint - the federal government has given us a chance to make more progress in a reasonable and pragmatic fashion". The Province has made real progress on reducing GHG emissions - the best in the country. The agreement today allows us to continue to do that. "

Contact: Michel Raymond
michel.raymond@cme-mec.ca
t. 902-422-4477 c. 902-802-2662

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