New Quebec law will legislate greenhouse gas cuts, carbon trade
Last Updated: Wednesday, May 13, 2009 | 12:43 PM ET
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The Quebec government has tabled legislation that aims to reduce greenhouse gas emissions and set up a carbon trading market across North America.
Provincial Environment Minister Line Beauchamp introduced the bill Tuesday in the national assembly, Quebec's provincial legislature.
Bill 42 is designed to allow Quebec to participate in the Western Climate Initiative, a carbon trade agreement between four Canadian provinces and seven U.S. states.
Starting in 2012, any industry in participating provinces and states that produces more than 25,000 tonnes of greenhouse gas will have to reduce those emissions or buy credits on the carbon exchange.
The initiative calls for a 20 per cent reduction from 2005 emission levels by 2020.
Beauchamp said Quebec's reduction targets are actually to reduce emissions to 1990 levels.
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