Canada Should Scrap Proposed Offset System

OTTAWA--The Green Party of Canada has recommended that Canada scrap its proposed domestic offset system in favour of expanding the cap and trade mechanism across the economy.

“Studies from both California and Ontario have suggested that an economy-wide market mechanism is a much cheaper way of achieving emissions reductions than introducing an offset system in addition to a limited cap and trade mechanism,” said Adriana Mugnatto-Hamu, the Greens’ Climate Change Critic.

But the concern isn't just about pricing.  Offset systems have been manipulated across the planet.  For example, the Green Party is concerned that approving corn-based ethanol as an offset mechanism will put additional pressure on Canada's forests.

"In order to address climate change, we need to ensure that global forests expand as we reduce our greenhouse gas emissions," says Natural Resources Critic Amy Collard.

"The most transparent, efficient and predictable approach endorsed by economists from Don Drummond, to tax expert Jack Mintz is to use the fiscal system to place a charge on carbon, reducing income taxes across the board," said Elizabeth May, Leader of Canada’s Greens. "This complex offset system is unlikely to deliver results and will leave large parts of the economy out of any carbon-constraints."

The comment period for Canada's proposed offset system closed yesterday.

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Contact:
Michael Bernard
Communications Officer
Green Party of Canada
613-562-4916 ext. 244
(c) 613-614-4916
michael.bernard@greenparty.ca