21 October 2009 15:37 [Source: ICIS news]
TORONTO (ICIS news)--DuPont
The call for an absolute cap contrasts with arguments from
In a joint statement, DuPont and Dow, along with environmental groups, two major banks and energy and resources firms, said that “having sectors with different cap types - that is, absolute and intensity - could create equity issues as well as fungibility issues that may impair trading efficiency” of a cap-and-trade system.
“The cap-and-trade system should place an absolute, national cap on covered emissions,” they said.
Intensity-based targets, which would be set relative to some output or input measure - for example emissions per barrel of oil produced - would make it less expensive for the oil sands industry in
However, other industries, as well as non-oil producing provinces such as Quebec, fear that with such targets for the oil sands, they would then face a relatively higher burden to ensure that Canada still meets its overall emissions targets under international agreements.
The call for an absolute cap comes as
Any Canadian regulation will likely have to be closely in line with legislation in the
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