VANCOUVER, British Columbia.—Many of Canada
provinces are pursuing a carbon-trading plan to fight climate
change, saying on Tuesday it was inevitable the country would adopt
a such system, even if the current federal government is cool to the
idea.
British Columbia, Ontario, Quebec and Manitoba
have been discussing adopting carbon trading, or emissions credit
trading, in conjunction with the Western Climate Initiative (WCI) in
the United States, an idea championed by California Gov. Arnold
Schwarzenegger.
"Eventually in North America there is going to be
a cap and trade system, and we think it is about time we start
thinking about what that will be and how it can operate," Quebec
Premier Jean Charest told reporters.
Provincial leaders met this week in Vancouver,
focusing Tuesday on global warming and how Canada can adapt to the
impact of climate change that is already being felt –illustrated by
retreating ice cover in the Arctic and insect infestations in the
country’s huge western forests..
Carbon-trading markets are seen as the most
business-friendly way to squeeze out cuts in emissions. They allow
major polluters to pay others to cut greenhouse gas output on their
behalf, so they can meet emission caps.
Supporters, including environmental groups, say
it is the most cost effective way to reduce emissions and provides
economic incentives to develop environmentally friendly technology.
Charest is pushing for the actual trading market
to be hosted at the Montreal Exchange.
The Conservative federal government has promised
to set up a domestic emissions trading system, but has opposed
placing binding caps on emitters, saying that could hurt the
economy.
Supports of carbon trading say mandatory caps are
needed for the market to establish pricing.
"We need to go there. If we can’t count on the federal government
to embark us on that particular destination then we’ll see what we
can do among ourselves," Ontario Premier Dalton McGuinty said.