Canada’s Minister of Environment, Climate Change and Nature, Julie Dabrusin, said on September 24 that the government was exploring a policy framework that could allow trade in internationally transferred mitigation outcomes (ITMOs). Such outcomes can be used in cooperation between countries and carbon-market arrangements under Article 6 of the Paris Agreement.

The government said a possible framework could enable Canadian companies to participate in international carbon markets and support investment in emissions-reduction and carbon-removal projects. The announcement cited a Carbon Removal Canada report on the potential economic contribution of a scaled-up carbon-removal industry by 2050; that is the report’s assessment, not an achieved government result. The policy work is exploratory and does not mean a trading programme has entered into force.