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FormerXBC Inc V.XBC


Primary Symbol: XEBEQ

Xebec Adsorption Inc designs, engineers, and manufactures products that are used for purification, separation, dehydration, and filtration equipment for gases and compressed air. The company operates in three reportable segments: Systems, Corporate and other, and Support. Its product lines are natural gas dryers for natural gas refueling stations, compressed gas filtration, biogas purification, associated gas, engineering services, and air dryers. The company's geographical segments are United States, Canada, China, Other, Korea, Italy, and France.


GREY:XEBEQ - Post by User

Post by RandomMakeron Nov 19, 2020 1:19pm
875 Views
Post# 31933771

Trudeau unveils new net-zero emissions plan to meet climate

Trudeau unveils new net-zero emissions plan to meet climate

Trudeau unveils new net-zero emissions plan to meet climate change targets

Critics decry legislation that doesn't include penalties for failing to miss targets

Liberals unveil net-zero emission bill

1 hour agoVideo
LIVE
Prime Minister Justin Trudeau and Environment Minister Jonathan Wilkinson announce their plans to get Canada to net-zero emissions by 2050. 0:00

Environment and Climate Change Minister Jonathan Wilkinson tabled new legislation today that would force current and future federal governments to set binding climate targets to get Canada to net-zero carbon emissions by 2050.

The bill, if passed, would require the federal government to set five-year interim emissions reduction targets over the next 30 years to ensure progress toward that ambitious goal.

 

The legislation, C-12, fulfils a Liberal election promise to be more aggressive at cutting greenhouse gas emissions by 2030, and to get Canada to net-zero emissions by 2050.

Reaching "net-zero" by 2050 would mean that emissions produced 30 years from now would be fully absorbed through actions that scrub carbon from the atmosphere — such as planting trees — or technology, such as carbon-capture and storage systems. The Liberals have promised to plant two billion trees.

"Climate change remains one of the greatest challenges of our times," Prime Minister Justin Trudeau told reporters Thursday.

"Just like with COVID-19, ignoring the risks of climate change isn't an option. That approach would only make the costs higher and the long-term consequences worse. Canadians have been clear — they want climate action now."

Trudeau described the bill as an accountability framework that will "ensure we reach this net-zero goal in a way that gives Canadians confidence."

Wilkinson's bill doesn't set out exactly how the federal government should go about reducing emissions — it does not mandate further increases to the carbon tax, for example. It simply stipulates that Ottawa must set a goal and work to achieve it through measures that are deemed effective.

The legislation calls for the creation of an outside 15-member advisory board — composed of climate experts, scientists and Indigenous representatives, among others — which would provide advice to the minister on setting targets and the best "sectoral strategies" for achieving net-zero. By law, the minister would be obliged to consult with groups before setting targets.

The legislation also requires that the minister table a plan in Parliament outlining how Ottawa plans to meet those targets. The legislation does not stipulate what role the provinces and territories will play in this national emissions reduction plan.

The first emissions reduction target, and the plan to meet it, would be tabled nine months after the bill is passed through Parliament. That first target would be for the year 2030.

'Binding' — but without penalties

Canada's target under the Paris Accord is to reduce emissions by 30 per cent compared to 2005 levels by 2030.

Current policies — including the carbon tax, banning coal power plants and regulating methane emissions in the oil and gas industry — will only get Canada about two-thirds of the way there.

While the government describes this legislation as "legally binding," there would be no tangible penalty applied if the country fails to drive down emissions as promised.

The government would simply have to state publicly in Parliament that it failed to meet its goals. There would be no meaningful legal consequences if Ottawa falls short.

A future government also could simply repeal the law and do away with reporting obligations altogether.

Green Party Leader Annamie Paul slammed the bill Thursday, calling it a major disappointment for climate activists who were expecting a much more ambitious plan.

"There is no plan to get to net-zero and there is little accountability. It's a game of smoke and mirrors. There is only talk of accountability about a plan that will be developed at some future date. That's not what we expected, that is not what we need," Paul told reporters.

"I'm confused as to why the government is yet again passing up on the chance of a lifetime to put Canada on a path to net zero by 2050."

The bill stipulates that the finance minister also will be required to prepare an annual report each year detailing "key measures that the federal public administration has taken to manage its financial risks and opportunities related to climate change," to ensure the bureaucracy itself is doing its part to drive down greenhouse gas emissions.


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