The ministry has made changes to the existing greenhouse gas emissions reporting framework to provide regulated cap and trade participants with certainty on what their reporting requirements are as part of the orderly wind down of the cap and trade program.
We have made the decision to file a regulation that repeals the Greenhouse Gas Emissions Quantification, Reporting, and Verification regulation (O.Reg. 143/16) under the Climate Change Mitigation and Low-Carbon Economy Act, 2016. O.Reg. 389/18 comes into force on August 1, 2018.
We have also made the decision to file the Greenhouse Gas Emissions: Quantification, Reporting, and Verification regulation (O.Reg. 390/18) under the Environmental Protection Act, 1990 and to update the incorporated Guideline. This regulation comes into force on August 1, 2018.
O.Reg. 390/18 includes the regulatory requirements that existed under the repealed O.Reg 143/16 and adds a new reporting requirement for people who were capped participants as of July 2 as part of the orderly wind down of the cap and trade program. Those participants are now required to submit a report on their greenhouse gas emissions from January 1 – July 3, 2018 by October 1, 2018 and have it, verified by an accredited third party by December 1, 2018.
Greenhouse gas emissions reported through this regulation will be used to determine the number of cap and trade instruments to be retired for the participants under the wind-down of the cap and trade program.