VICTORIA, B.C. — As the new year starts, the Province’s new Greenhouse Gas Industrial Reporting and Control Act comes into effect. Beginning on Jan. 1, this act combines several pieces of existing legislature into one framework, and ensures LNG facilities in British Columbia will have a cap on emissions.
Three regulations, necessary to implement the act, are also now in effect: greenhouse gas emission reporting regulation, administrative penalties and appeals regulation, and emission control regulation.
“Enacting the Greenhouse Gas Industrial Reporting and Control Act brings about clarity and consolidates many important pieces of our GHG legislation,” says Environment Minister Mary Polak, adding that the emissions cap will make B.C.’s LNG the ‘cleanest in the world.’
“The act upholds commitments we made to industry and enables First Nations and others to develop offsets under the new system, while supporting our new #BCTECH Strategy.”
The act includes the ability to set an intensity benchmark for greenhouse gas emissions in regulated industries, and there are flexible options that will act as incentives to invest in emission reduction projects.
Options can include purchasing offsets or paying a set price per tonne of greenhouse gas emissions that would be dedicated to a technology fund.