OTTAWA -
March 14, 2008 - Canada's Environment Minister,
John Baird, and the Regional Minister for
Montreal, Michael M. Fortier, commented
today on the announcement by the Montreal
Climate Exchange that it intends to move
ahead with launching trading on Canada's
first carbon market, subject to regulatory
approval.
"I am pleased to
see that organizations like the Montreal
Climate Exchange are moving full steam ahead
to set up Canada's first carbon market,"
said Minister Baird. "As the Montreal
Climate Exchange noted, our Government's
announcement on Monday of the details on
our greenhouse gas emissions plan has allowed
them to move forward and start trading."
On March 10, Minister
Baird made public the details of the Turning
the Corner plan to reduce greenhouse gases
an absolute 20% by 2020. This included details
and rules of the regulations, including
carbon trading, offsets, a technology fund,
and a credit for early action program.
"This is a good
day for Montreal and for Canada," said
Minister Fortier. "The Montreal Climate
Exchange has certainly taken a lead role
in Canada towards setting up a carbon market,
and I'm pleased to see that they are moving
ahead. With tools like carbon trading available
in our Turning the Corner plan, it's clear
that our Government's actions in fighting
climate change are on the right track."
Budget 2008 included
$66 million over two years to set up key
features of the regulations around the Turning
the Corner plan, including an electronic
tracking system for units traded in the
carbon market.
"The Government
of Canada believes in the commitment, ingenuity
and willingness of Canadians to tackle the
challenge of climate change while continuing
to grow our economy," concluded Minister
Baird. "I believe today's announcement
demonstrates that clearly."
Eric Richer
Press Secretary
Office of the Minister of the Environment
