Alex Whalen and Elmira Aliakbari are analysts at the Fraser Institute.
Newfoundland and Labrador’s energy sector, already struggling from the downturn in world oil markets and the COVID-19 recession, has taken another blow – this time directly from the federal government.
The Liberal government of Prime Minister Justin Trudeau recently imposed new rules – known as the Strategic Assessment of Climate Change (SACC) – that requires certain projects (including mines, and oil and gas projects) to describe how the project will achieve net-zero emissions.
According to federal Environment Minister Jonathan Wilkinson, the plan will ensure Canada exceeds its Paris climate agreement targets by 2030 and 2050.
SACC rules will require project proponents to estimate and provide information on “GHG emissions, impact of the project on carbon sinks, impact of the project on federal emissions reduction efforts and on global GHG emissions, mitigation measures and climate change resilience” at each of the five phases of the assessment process.
There are many problems with these new rules.
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