B.C. joins international carbon trading partnership

Campbell says new program will strengthen B.C.'s own initiatives

Last Updated: Monday, October 29, 2007 | 1:29 PM PT

CBC News

British Columbia is teaming up with European Union countries and U.S. states in an international effort to fight climate change.

Premier Gordon Campbell is the only Canadian in Lisbon for the launch of the International Carbon Action Partnership (ICAP), which aims to create a global market for buying and selling greenhouse gas emissions.

B.C. Premier Gordon Campbell and Linda Adams, Secretary of the California Environmental Protection Agency, sign the International Carbon Action Partnership political declaration during the official launch of the partnership Monday, in Lisbon.
(Armando Franca/Associated Press)

Campbell said he believes modelling B.C.'s carbon trading program after those established in Europe and North America will allow B.C. to take part in a growing international carbon trading market.

"We believe that if we co-ordinate the development of our cap and trade system with the European system, with the Norwegian system, and with the system in the northeastern part of the United States, we build a larger marketplace, we build consistency and stability over the long term for this and it's a critical component of us reducing carbon emissions and greenhouse gases globally," said Campbell.

The premier said he believes the new program will dovetail with B.C. and Manitoba's participation in the Western Climate Initiative, which aims to set caps and trading goals for carbon emissions among several U.S. states and the two Canadian provinces.

In September, Campbell promised to introduce legislation to reduce B.C.'s greenhouse-gas emissions 33 per cent below current levels by 2020.

Commenting from Lisbon on Monday, Campbell said B.C.'s carbon trading system should be in place by 2008.

Campbell said he does not believe his presence at the conference is a slap at the federal government's attempts to reduce this country's greenhouse gas emissions by developing a Canada-only credit trading program.

Global warming is an international challenge and the federal government was aware of his intention to sign the ICAP agreement, Campbell said. He said he will brief Prime Minister Stephen Harper when the two leaders meet Tuesday.