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Canada sets new 2030 carbon reduction target, to issue first green bond
(Reuters, 20 Apr 2021) Ottawa's budget for the fiscal year ending next March sets a new target to cut emissions by 2030 to 36% below 2005 levels, more ambitious than its previous 30% goal.
Canada said on Monday it plans to cut carbon emissions more aggressively and issue its first green bonds, part of a global push for more action on climate change.
Ottawa's budget for the fiscal year ending next March sets a new target to cut emissions by 2030 to 36% below 2005 levels, more ambitious than its previous 30% goal. Canada has a net zero emissions target of 2050.
An even more ambitious 2030 target will be set "in the coming days", the budget says, probably when Prime Minister Justin Trudeau attends a virtual leaders summit on climate starting on Thursday. It will be hosted by U.S. President Joe Biden, who has put new focus on fighting climate change.
Trudeau has said he wants to "build back better" after the pandemic, but critics have said Canada, the world's fourth-largest oil producer, may lag the United States if more action is not taken.
"In 2021, job growth means green growth," Finance Minister Chrystia Freeland said in a speech to lawmakers.
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Reuters, 20 Apr 2021: Canada sets new 2030 carbon reduction target, to issue first green bond
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