Wednesday, May 29, 2024

Federal Government Approves Saskatchewan’s Output-Based Performance Standards Program

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Large industry to fall under provincial carbon pricing plan

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On 22nd November, the provincial government received confirmation that a provincial plan has been approved to replace the federally imposed carbon tax on industrial emitters in the province, effective January 1, 2023. The Saskatchewan Output-Based Performance Standards (OBPS) Program meets the requirements for the 2023-2030 federal carbon pricing benchmark, including the addition of the electricity generation and natural gas transmission pipeline sectors.

All industrial carbon taxes will now stay in Saskatchewan, saving Saskatchewan industry (and the jobs and families these industries support) an estimated $3.7 billion in federal carbon taxes between now and 2030 compared to federal carbon pricing.

“Now more than ever, the world needs food and energy security – and that means the world needs Saskatchewan and our clean and sustainable, food, fuel and fertilizer,” Environment Minister Dana Skoropad said. “This is not the time for federal climate policies that risk undermining our economic growth and prosperity. Our plan will allow industries to grow and operate sustainably while maintaining our economic competitiveness as a province.”

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