In this report, we provide a broad overview of 2024’s animated Canadian climate law and policy landscape.

The proposed framework outlines a regulatory cap-and-trade program for Canada’s oil and gas industry, with a sectoral limit 35-38% below 2019 levels.

The first phase of the European Union’s Carbon Border Adjustment Mechanism has taken effect. The new rules aim to ensure EU businesses are not disadvantaged by the bloc’s ambitious decarbonization efforts.

Last month, Ontario’s Ministry of the Environment, Conservation and Parks proposed amendments to the Emissions Performance Standards program that regulates industrial greenhouse gas emissions in the province. The proposed program amendments aim to ensure it remains in compliance with the federal government’s carbon pricing benchmark standards for 2023-2030.

Environment and Climate Change Canada is considering two options to put a steadily-lowering ‘cap’ on oil and gas sector emissions: a national oil industry cap and trade program, or additional regulations under the Greenhouse Gas Pollution Pricing Act that could result in an industry-specific carbon pricing rate.

On Wednesday, Canada launched its Greenhouse Gas Offset Credit System to regulate the sale of carbon offsets under the national carbon pricing law. The program will allow registered parties to generate and sell verified carbon offset credits issued by Canada’s federal environmental agency, Environment and Climate Change Canada.

With the writ dropped for Ontario’s 2022 election on June 2, voters must decide what the next four years of provincial environmental policy will look like. To assist, we’ve outlined some of the key features and differences between the four major parties’ climate and environment plans, and provided a short analysis to illustrate what’s good, what’s bad, and what’s missing in each party’s proposal.

The recent 271 page report describes, sector by sector, how Canada’s emissions are being generated, and what policies the federal government - budgeting $9.1 billion in new climate-related spending - is planning or implementing to decarbonize Canada’s economy, with a near term goal of 40-45% emissions reduction (as compared to 2005 levels) by 2030.

On Tuesday, the Council of the European Union supported a “general approach” to advance a proposed EU carbon border adjustment mechanism to a vote in the European Parliament. The Council’s vote backs the proposed regulation’s framework, but leaves some details to further deliberation.

The Output-Based Pricing System Proceeds Fund will support clean energy and industrial decarbonization projects in provinces where revenues were generated.