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Canada may need to buy Kyoto credits
By JEFF SALLOT
Wednesday, April 13, 2005 Updated at 6:22 AM EST
From Wednesday's Globe and Mail
Ottawa Canada probably will have to spend money overseas to meet its own commitments under the Kyoto Protocol on climate change because incentives to Canadian enterprises may not get the job done, Industry Minister David Emerson says.
Even with federal tax incentives and other support for domestic heavy industry, Ottawa anticipates having to purchase so-called greenhouse-gas credits abroad five to seven years from now, Mr. Emerson told the House environment committee yesterday.
Asked by skeptical Conservative MPs how Canada will meet its targets, Mr. Emerson said: "International purchases may be an important part of that late in the first Kyoto period."
The Kyoto Protocol became international law in February. It requires signatory countries to cut emissions of gases associated with global warming by 2012.
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