The Technology Innovation and Emissions Reduction Regulation requires regulated facilities to reduce greenhouse gas emissions. The regulation applies to facilities which emit more than 100,000 tonnes of carbon dioxide. Facilities which emit less than the threshold may opt-in to the regulation, and conventional oil and gas facilities under the same ownership may be combined into a single aggregate facility. The regulation sets out high-performance benchmarks or enables the director to set facility-specific product benchmarks. To meet the emissions reduction requirement, facilities can reduce their emissions or use emission performance credits, emission offsets or pay into the regulated fund. Regulated facilities must provide annual compliance reports and facilities that emit more than 1 million tonnes of carbon dioxide must also provide a yearly forecasting report.
June 9, 2023
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