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Published: Monday 29 July, 2013

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But because the Crown corporation is not forced to pay any money in fines or penalties for the carbon that its controversial coalfired plants spew into the atmosphere, it has had little reason to speed the transition from coal to other forms of power that contribute less to global warming.That sound principle of making the polluter pay lies at the heart of an aggressive and encouraging new approach unveiled Friday by Liberal Leader St Dion to cut greenhouse gases produced by large industrial emitters, which account for 50 per cent of Canadas overall emissions.These big emitters fall into three broad classes: companies that produce fossil fuels; companies, such as OPG, which use fossil fuels to produce electricity; and companies in energyintensive industries that use the energy from fossil fuels to produce the goods and services they sell.Under his plan, Dion would impose hard caps on greenhouse gas emissions on all firms in the three largeemitting sectors. Thats in sharp contrast to Prime Minister Stephen Harpers socalled caps that would allow industrial polluters in our growing economy to actually increase their emissions. Where Harper is telling the oil industry, for example canada goose jackets uk , that it must cut its emissions per barrel, Dions plan would force the industry to cut its emissions, period.Dion also wants to force any company that failed to stay within its cap to pay $20 per tonne for every tonne of greenhouse gases above its cap into a Green Investment Account, starting in 2008 and rising to $30 in 2011. The fund would be administered by an independent agency and would dole the money out for green projects. Companies could draw on their Green Investment Accounts to fund carbonreduction projects.The agency would invest any leftover funds in other green projects which can show verifiable reductions in greenhouse gases, with at least 80 per cent of the money spent in the province in which it was collected.In addition to this carrotandstick approach for firms that exceed their caps, Dion would let companies that fall below their caps to trade their unused carbon credits to other Canadian firms. He would also let firms that are over their caps to reduce their penalties by up to 25 per cent by buying projectbased, Kyotocertified international emissions credits that lead to greenhouse gas reductions canada goose jackets uk in other parts of the world.The Liberals argue that allowing Canadian firms to buy limited international credits is an important tool in linking national carbon reduction strategies into a true global approach to climate change.In our view, though, this money would be better spent here cleaning up our own act on global warming. The best thing Canada can do for other nations is to show them what can be achieved at a fairly modest cost.Despite reservations about the purchase of international credits, overall, we believe Dions carrotandstick plan is a solid program that would lead to a f canada goose jackets uk airly rapid reduction in Canadas greenhouse gas emissions. canada goose jackets uk