A press release on September 29 announced that the Nova Scotia government has introduced amendments to the Environment Act, enabling regulations to set caps on GHG emissions, distribute and enable trading of emission allowances within the province, and set a province-wide greenhouse gas emission target for 2030. The province will create a Green Fund to support climate change initiatives and innovations, and money from emissions sales and fines will be deposited there. Next steps include “developing greenhouse gas reporting regulations this fall and consulting with stakeholders on them”.
The amending legislation, Bill 15, received first Reading in the Legislature on September 29 as a means to satisfy the requirement of the Pan-Canadian Framework on Clean Growth and Climate Change. However, reaction from the Ecology Action Centre in Halifax urges the federal government to reject the plan, stating that “A carbon pricing system that doesn’t actually put a price on carbon, support low-income people, or incentivize clean growth truly misses the point.” The EAC also warns of the risks of extreme volatility since the plan is structured to create a carbon market within Nova Scotia alone – covering a population of under a million people and about 20 businesses. In “Time for Ottawa to cry foul over Nova Scotia cap-and-trade proposal” published in the Hill Times and reposted at Pembina (Nov. 2) , the verdict is similarly negative: “Nova Scotia’s cap-and-trade system could cause the province to lose its foothold on climate leadership. In order to secure a clean, prosperous economy into the future, the provincial government should consider other approaches.”
The Ecology Action website has compiled documents and submissions from the provincial consultations leading up to the September announcement. The Canadian Centre for Policy Alternatives Nova Scotia Office published a Backgrounder in May 2017 which outlines its proposals for a stronger cap-and-trade policy.