emissions reduction fund

The program offers loans of up to $50 million to help oil and gas producers meet or exceed regulations enforcing cuts to their methane emissions.  

Green Party MPs and environmental groups say a financial relief program for onshore oil and gas companies should be scrapped after a scathing report by Canada’s climate watchdog was released Thursday.

A federal program providing financial aid to help struggling oil and gas companies reduce greenhouse gas emissions was “poorly designed” and amounts to little more than a fossil fuel subsidy, a new report reveals.

“This issue lies at the feet of the federal government. They now have regulations that are too weak,” said Dale Marshall, national climate program manager at Environmental Defence Canada.