Nations Plan To Reduce Methane Emissions By At Least 40% Of 2012 Levels By 2025
The recent meeting between President Obama and Canadian Prime Minister Justin Trudeau was closely-watched by many because of plans the two nations had to discuss a range of issues affecting the business community. Among the most notable outcomes of the meeting was an announcement that the two leaders plan to make “new commitments to reduce planet-warming emissions of methane,” the New York Times reported. In a joint statement the two leaders said that Canada and the US will “play a leadership role internationally in the low carbon global economy over the coming decades” and will also seek to “accelerate the carrying out of agreements made in climate talks in Paris last year.” The Los Angeles Times similarly reported “the most notable commitment…is a plan to reduce potent methane emissions by 40-45% below 2012 levels by 2025.” The Hill (DC) reported Obama said, “I’m especially pleased to say the United States and Canada are fully united in combating climate change.” Obama added, “Canada’s joining us in our aggressive goal to bring down methane emissions in the oil and gas sectors in both of our countries. And together we’re going to move swiftly to establish comprehensive standards to meet that goal.” Trudeau said, “The President and I share a common goal,” adding, “Want the clean growth economy that continues to provide good jobs and great opportunities for all of our citizens. And I’m confident that by working together we’ll get there sooner than we think.”
What Happens Next
There is no firm timetable on when emissions cuts might begin. However, the Washington Times reported the EPA “will begin developing regulations ‘immediately,’ the White House said,” while Canada’s environmental agency is planning to move “as expeditiously as possible” to craft a proposal by 2017.
What This Means For Small Businesses
Small businesses are no stranger to the hardships associated with a Federal government that decides to pursue an aggressive regulatory agenda. If the US and Canada implement these latest proposals to reduce emissions, small businesses on both sides of the border are likely to suffer due to mounting costs from adjusting manufacturing and shipping processes.
Note: this article is intended to keep small business owners up on the latest news. It does not necessarily represent the policy stances of NFIB.