"Canada on Wednesday said it plans to unveil a cap and trade system starting in 2026 for limiting emissions from the oil and gas sector, a step toward fulfilling one of Prime Minister Justin Trudeau's key climate policies.

The framework for the cap and trade system will be announced on Thursday, ahead of draft regulations being released next year.

Federal Natural Resources Minister Jonathan Wilkinson said the cap would start in 2026 to give oil and gas companies time to adjust and acquire the technology needed for decarbonizing the operations."

Nia Williams reports for Reuters December 6, 2023. [2]