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.

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.

After attacking Ontario Liberals for their “carbon tax” in 2018, and federal Liberals for their “carbon tax” in 2019, Ford quietly decided that in 2022, he actually wouldn’t mind his own.

The rules of China’s national cap and trade program went into effect in February, but the 2,200+ energy sector companies subject to the program are slated to (finally) get to start trading emissions this Friday.

The program will cover three-quarters of the state’s emissions, meaning that once in place, Washington will become the second US state (after California) to price most in-state emissions. Collected program revenues will be allocated to a “climate investment account” to support Washington’s green transition.

Canada’s federal ministry of the environment and climate change recently announced it will review Output-Based Pricing System (OBPS) regulations with an eye to increasing emission reductions, covering additional industrial activities, correcting current standards not aligned with activities performed by participating facilities, and improving efficiency.

If implemented, EU carbon border adjustments would place a duty on imports from jurisdictions lacking a sufficient price on carbon emissions. This would protect European industries subject to the bloc’s carbon pricing system from competition with producers in countries with weaker environmental laws, as well as ‘leakage’, wherein businesses relocate operations to environmentally lax jurisdictions to increase cost competitiveness (i.e., ‘offshoring pollution’).

On September 21st, 2020, the Canadian federal government accepted Ontario’s Emission Performance Standard (EPS) program as an alternative to the federal output-based pricing system (OBPS) that’s been in effect in the province since January 1st, 2019. Both programs are cap and trade-type emission pricing regimes designed to incentivize industrial polluters (e.g., pulp and paper facilities, base metal smelting facilities, etc.) to lower greenhouse gas (GHG) emissions.