Canada has ratified the Kyoto Protocol and will be developing legislation and regulations, over the next several years, for implementing Kyoto. This briefing highlights four risks faced by the country during implementation and suggests possible actions to mitigate those risks.
Document Highlights
The transition, over many decades, to a lower-carbon future will bring business opportunities and side benefits such as improved air quality and better urban transit. But implementation of Kyoto also presents at least four risks that need to be managed and mitigated:
- Risk 1: Canada falls well short of the country’s target.
- Risk 2: Continued uncertainty over an implementation plan depresses investment in the Canadian energy sector.
- Risk 3: Increased energy costs shift new investment and production outside Canada.
- Risk 4: Focus on this decade’s commitments impedes development of long-term strategies that make sense for Canada.
On climate change, Canada has a history of making commitments first, and doing analysis later. Canada’s greatest need on climate change policy is to put the horses of analysis and planning before the cart of its next commitment.
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