What will market mechanisms under the Canadian Emissions Trading system-look like? The Canadian government just released its greenhouse gas reduction strategy: Moving forward on Climate Change: A Plan for Honouring our Kyoto Commitment. Two kinds of companies will be affected by this new state-of-play: those that emit large amounts of CO_2 will now be caught under regulated restrictions and those that can innovate to reduce CO_2 will be rewarded. Canada's obligation under the Kyoto Protocol is significant. We have agreed to reduce greenhouse gas (GHG) emissions to 6% below 1990 levels through the period 2008 to 2012. This amounts to a reduction of somewhere in the realm of 270 million tonnes from business-as-usual projections for 2010.
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