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ECCC Publishes Paper on Facilitating GHG Offset Projects on Crown and Public Land

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Environment and Climate Change Canada (ECCC) has released a discussion paper entitled Facilitating Projects on Crown and Public Land in Canada’s Greenhouse Gas Offset Credit System (the Paper). The purpose of the Paper is to gather feedback on preliminary considerations for projects in Canada’s Greenhouse Gas (GHG) Offset Credit System (Offset System) on provincial Crown land or public land administered by territorial governments (Crown or public land).    These considerations include (i) respecting Indigenous rights, (ii) acknowledging the role of provinces and territories in authorizing project activities, and (iii) demonstrating entitlement for offset credits issued for GHG emission reductions. These considerations were formed based on feedback from a 2022 discussion paper entitled Carbon Pollution Pricing: Considerations for facilitating Indigenous participation in the Federal Greenhouse Gas Offset System and ongoing engagement activities. Earlier this year, ECCC published a protocol for improved forest management (IFM) on private land (see our earlier bulletin here). ECCC continues to indicate that it will be initiating the development of a protocol on IFM on public land later this year.   This bulletin briefly summarizes the three key considerations outlined in the Paper:    1. Aligning with the principle of recognizing and upholding Indigenous rights   Requirements for offset projects will be guided by the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP) and the right of Indigenous peoples to free, prior, and informed consent (FPIC). ECCC is proposing that projects on Crown or public land must have, as a matter of policy, the consent of Indigenous peoples holding asserted or established Aboriginal or Treaty rights in the project area before they can be registered in the federal Offset System.   Consent must be documented and must reflect support of the rights-holding group in their preferred approach. Depending on the Indigenous nation or community, this could take the form of a Band Council Resolution, Memorandum of…

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ECCC Publishes 2030 Nature Strategy and Nature Accountability Bill

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Environment and Climate Change Canada (ECCC) on Thursday published Canada’s 2030 Nature Strategy: Halting and Reversing Biodiversity Loss in Canada (the Strategy) alongside proposed legislation titled the Nature Accountability Act (the Bill), which received its first reading in the House of Commons last week. The Strategy outlines how Canada will implement its nature protection goals under the Kunming-Montréal Global Biodiversity Framework (GBF) (see our earlier bulletin here), building on existing initiatives across Canada, and defining clear areas of action and improvement. The Bill aims to enshrine the government’s commitment to protecting nature in legislation.    At the fifteenth meeting of the Conference of the Parties (COP15) on biological diversity in Montreal in 2022, Canada committed to protecting 30 per cent of its land and water by 2030, and putting nature on a recovery path by 2050. Canada’s Strategy is mandated to outline the actions that will be taken to achieve these goals.   This bulletin briefly summarizes the Strategy and the Bill.   The 2030 Nature Strategy:   With the aim of ensuring an inclusive, adaptable and evidence-based pathway, the Strategy sets out six pillars: Recognize and uphold Indigenous rights. Honour Indigenous peoples’ roles as original caretakers of the land, waters, and ice, and advance reconciliation through the protection of the rights of Indigenous Peoples set out in the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP); Ensure a whole-of-society approach. Foster policy coherence and collective action across government, society, and industries; Support a resilient economy. Build a resilient economy that acknowledges the intrinsic link between prosperity and healthy environment; Adopt flexible community-based approaches. Support regional differences, empower communities, and adopt flexible approaches that reflect local needs; Use the best available science and equal weight to Western and Indigenous Knowledge. Combine Western science and Indigenous Knowledge to inform decision-making and share information transparently; and  Ensure a holistic approach. Embrace…

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CSSB Publishes Exposure Drafts for Sustainability and Climate Disclosure

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UPDATE: The Canadian Securities Administrators (CSA) announced on March 13, 2024 that it anticipates seeking comment on a revised rule setting out climate-related disclosure requirements once the CSSB consultation is complete and its standards are finalized. The CSSB standards must be incorporated into a CSA rule in order to become mandatory under Canadian securities legislation. — The Canadian Sustainability Standards Board (CSSB) today announced the release of exposure drafts for the proposed Canadian Sustainability Disclosure Standards (CSDS), which include: CSDS 1, General Requirements for Disclosure of Sustainability-related Financial Information (CSDS 1); and CSDS 2, Climate-related Disclosures (CSDS 2). The International Sustainability Standards Board (ISSB) published IFRS S1 and IFRS S2 in June 2023. Those disclose standards served as the baseline for the development of CSDS 1 and CSDS 2, respectively. The CSSB also published a consultation paper on criteria for modifying the IFRS Sustainability Disclosure Standards when formulating Canadian standards based on them. The CSSB has proposed to make the new standards effective as of annual reporting periods beginning on or after January 1, 2025. Comments on the proposed standards are due June 10, 2024. CSSB will host a webinar on the exposure drafts on April 10, 2024. This bulletin provides a brief summary of the objectives and key conceptual foundations / core content of CSDS 1 and CSDS 2, as well as the Canadian changes as compared to the ISSB standards. CSDS 1: General Requirements for Disclosure of Sustainability-related Financial Information Objective. The objective of CSDS 1 is to require an entity to disclose information about its sustainability-related risks and opportunities that is useful to primary users of general-purpose financial reports in making decisions relating to providing resources to the entity. An entity would be required to disclose information about all sustainability-related risks and opportunities that could reasonably be expected to affect the entity’s cash flows, its…

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Federal Government Releases 2023 Budget Long on Clean Economy Investment

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Deputy Prime Minister and Minister of Finance Chrystia Freeland today released Budget 2023: A Made-in-Canada Plan (Budget 2023). Resilient’s bulletin outlines key climate, energy, and Indigenous highlights from Budget 2023.   Clean Electricity, Clean Economy Budget 2023 introduces “Canada’s Plan for a Clean Economy” (the Clean Economy Plan) with the following priorities: electrification; clean energy; clean manufacturing; emissions reduction; critical minerals; infrastructure; electric vehicles and batteries; and major projects. The Clean Economy Plan is centred on three tiers of federal financial incentives: (i) an anchor regime of clear and predictable investment tax credits; (ii) low-cost strategic financing; and (iii) targeted investments and programming to respond to the unique needs of sectors or projects of national economic significance.   Clean Electricity. Budget 2023 notes that Canada’s electricity demand is expected to double by 2050 and will require electricity capacity to increase by 2.2 to 3.4 times compared to current levels and proposes the following new funding and investments to support clean electricity in Canada: Canada Infrastructure Bank (CIB) will invest at least $10B through its Clean Power priority area, and at least $10B through its Green Infrastructure priority area, at least $20B to support the building of major clean electricity and clean growth infrastructure projects; $3B over 13 years to Natural Resources Canada to: Recapitalize funding for the Smart Renewables and Electrification Pathways Program to support critical regional priorities and Indigenous-led projects, and add transmission projects to the program’s eligibility; Renew the Smart Grid program to continue to support electricity grid innovation; and Create new investments in science-based activities to help capitalize on Canada’s offshore wind potential, particularly off the coasts of Nova Scotia and Newfoundland and Labrador. funding to advance the Atlantic Loop and support ongoing negotiations with provinces and utilities to identify a clear path to deliver the project by 2030. Clean Economy. Budget 2023 proposes the following new funding and support for…

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Prime Minister Releases New Mandate Letters For Cabinet

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Prime Minister Trudeau yesterday released new mandate letters to cabinet ministers including the Ministers of Environment and Climate Change and Natural Resources, and the Deputy Prime Minister and Minister of Finance. Every minister has been directed to implement the United Nations Declaration on the Rights of Indigenous Peoples (read our earlier bulletin here).   This bulletin summarizes key climate, energy, and Indigenous objectives highlighted in the ministers’ new mandates:   Environment and Climate Change Minister Guilbeault’s mandate letter situates the minister as the key driver of the federal government’s Climate Plan, delivering on policy and fiscal measures provided in the Strengthened Climate Plan and adopting measures to achieve net-zero emissions by 2050.    Key objectives include: Implement the Canadian Net-Zero Emissions Accountability Act, and bring forward an updated Emissions Reduction Plan to achieve a 40 to 45 per cent reduction in emissions by 2030 from 2005 levels. Cap oil and gas sector emissions at current levels and ensure that the sector makes an ambitious and achievable contribution to meeting the 2030 climate goals. Develop a plan to reduce economy-wide methane emissions consistent with the Global Methane Pledge and require through regulations the reduction of oil and gas methane emissions in Canada by at least 75 per cent below 2012 levels by 2030. Support the global effort to phase out coal-powered electricity and the mining of thermal coal, and ban thermal coal exports from and through Canada no later than 2030. Work with industry, labour, and other stakeholders to develop a regulated sales mandate that at least 50 per cent of all new light-duty vehicle sales be zero emissions vehicles in 2030, toward achieving Canada’s mandatory target of 100 per cent by 2035. Introduce a Clean Electricity Standard to achieve a net-zero clean electricity grid by 2035. Finalize Canada’s first National Adaptation Strategy in 2022. Work with relevant ministries,…

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