Canada’s two most populace, most industrialized provinces, Ontario and Quebec, on Monday will sign into a existance an emissions-trading scheme akin to Europe’s, a reaction to the Conservative federal government’s u-turn on Kyoto.

Leaders for the two provinces — one, hydropower-rich, the other dependent on coal, nuclear, gas, oil and imports of electricity — have agreed the kernel of what they hope will become a national trading scheme (writethru correction)

Monday marked a new deal limiting greenhouse gas emissions for polluters. Like Europe, the carbon-trade would see penalties become investment for those who contribute to a reduction in emissions of carbon-dioxide.

“I just want us to be ahead of this curve,” Mr. Charest was quoted by newspaper The Globe & Mail as saying.

“I don't want us to be playing catch-up to a new American government in less than a year from now.”

The current Canadian plan of Prime Minister Stephen Harper’s government lacks an emissions-trading regime, although two other provinces and five U.S states began to cap and trade in 2007.

Meanwhile, in Sarpsborg, Norway this week, a plane-load of ex-prime ministers, Kyoto negotiators and companies — the so-called Madrid Club — meet for Climate Conference 2008. Among them is Gro Harlem Brudtland, Norway’s 80’s-era Iron Lady, bringer of the country’s carbon tax, now seen as enlightened.

Technology and finance are the order of the day for the 100 academics, business people and NGO reps asked by the United Nations to connect technology and carbon trading.

“(CC2008) is about the three avenues toward emissions reduction: renewables, energy efficiency and carbon capture and storage,” Hafslund public relations director, Frode Geitvik, said to Scandoil.com.

“How do we share the bill,” he added.

With mandatory emissions trading long a reality across Europe, and with the Scandinavian electricity exchange, Nordpool, now also a carbon-trading exchange, organizers hope to beef up Kyoto mechanisms by arranging “investment clusters” around key technologies aimed largely at budget-breaking carbon capture and storage.

Tags: CCS