Nova Scotia’s climate change plan will preserve the environment for future generations while protecting the pocketbooks of Nova Scotians.
In 2016, the federal gov’t announced all provinces & territories must put a price on carbon pollution to help fight climate change. Today, they accepted Nova Scotia’s cap-and-trade program, which will cost Nova Scotians far less than the federal approach.
Thanks to the hard work of Nova Scotians, our province is already a national leader in the fight against climate change. Through the cap-and-trade program, we will reduce emissions with very minimal cost to Nova Scotians.
Cap-and-trade will increase electricity rates by about 1%, versus about 8% by 2022 under the federal plan. It will add about 1 cent per litre to the price of gas, compared with about 11 cents per litre by 2022 under the federal plan.
Nova Scotians have already surpassed the federal target of reducing NS’s GHG emissions by 30% below 2005 levels by 2030. To build on that success, we’re setting one of the most ambitious GHG reduction rates in Canada – 45-50% below 2005 levels by 2030. Cap-and-trade will help us get there while protecting the pocketbooks of Nova Scotians.