Nov 24, 2020
There is plenty of uncertainty with respect to Canadian legislation reinforcing the federal government’s commitment to a net-zero carbon target by 2050, Osler partner Sander Duncanson tells S&P Global. In the article, author Kip Keen explores the potential impact that Bill C-12, which will require Canada to set emissions targets every five years beginning in 2030 if passed, could have on the mining industry. Sander, a partner in Osler’s Regulatory, Environmental, Aboriginal and Land Group, offers his insights.
"There's a lot of unknowns about what this regime looks like," Sander tells S&P Global. "How much of this is just easy political statements without a lot of teeth, versus really requiring wholesale change?"
The article explores how the legislation also “requires governments to produce emission-reduction plans that include an outline of ‘relevant sectoral strategies.’” According to the article, the key question for the mining sector will be how the government addresses “regulatory requirements for some projects undergoing permitting to prove they can become net carbon neutral after 2050 if extending beyond that year.”
"The federal impact assessment space is where a lot of this discussion is going to take place," Sander tells S&P Global. "For projects that do need to demonstrate net zero by 2050, what types of conditions are going to be attached to those projects to actually require them to do that and how onerous are they going to be?"
For more information, read author Kip Keen’s article “Trudeau’s carbon neutrality plan for Canada comes with many ‘unknowns’” in S&P Global.