"We will continue our dialogue on regulatory issues and pursue shared regulatory outcomes that are business-friendly, reduce costs, and increase economic efficiency without compromising health, safety, and environmental standards.
U.S.-Canada energy and environmental cooperation are inextricably linked, and we commit to further improving our ties in those areas. We have built the world's largest energy trading relationship. We share the goals of energy security, a robust and secure energy grid, and a strong and resilient energy infrastructure that contributes to energy efficiency in both countries. We collaborate closely on energy innovation, particularly in the clean energy sphere. As the process continues for the Keystone XL pipeline, we remain committed to moving forward on energy infrastructure projects that will create jobs while respecting the environment.
We also look forward to building on our many areas of environmental cooperation, particularly along our border and at the Great Lakes, and we will continue to work together to enhance the quality of our air and water."
This framing language will enable officials from both the US and Canada to develop more detailed plans and goals once the Trump administration has completed its appointments.
One of President Trump's election promises was to cancel the US's ratification of the Paris Climate Treaty. The joint Trump-Trudeau press release, suggests that for now, there is golden silence on cancelling the US's commitment to the Paris Treaty. Another factor to consider regarding the silence to date on climate change is the Republican-led "Conservative Answer to Climate Change" former Secretaries of State and Energy George Shultz and James Baker III.
Their solution: a revenue neutral carbon tax.
i
Before the US-Canada bilateral leaders meeting and reporting on the Republican-led climate initiative, the US House of Representatives voted to overturn a rule enacted under the previous administration to reduce harmful methane emissions resulting from oil & gas extraction. US government reports estimated that only 40 percent of methane gas being flared or vented could be captured economically and sold. Hence the need for regulation. In addition to eliminating the methane regulation, the US House also eliminated the rule outlawing dumping of mining debris in
nearby streams.
ii
You can read the full
Trudeau-Trump communiqué
here To compare this communiqué to the one issued on energy and climate change following the North American Leaders' Summit, you can view it
here.
Markets for clean energy and clean water innovation are slowly emerging. This week's Trudeau-Trump meeting was positive. The vote to overturn the US methane regulation was not.
*****
Céline Bak recently published a policy paper on Finance and Innovation in the Low Carbon Economy at the Centre for International Governance Innovation which you can view here. Also she is the co-chair of a G20-focused task force of global think thanks on Climate Policy and Finance, which you can read about here.
[i] Shultz, George, James Baker III, A Conservative Answer to Climate Change, The Wall Street Journal, February 7, 2017.
[ii] Daly, Matthew, « House Overturns Obama Administration's Methan Gas Emission Rule, Time Magazine, February 3, 2017
