ICBA has formally submitted its response to the provincial government regarding the proposed BC Oil and Gas Emissions Cap. This submission builds on ICBA’s October 2023 feedback and outlines significant concerns about the cap’s economic and policy implications.
We oppose the NDP Government’s cap.
ICBA’s response emphasizes the need for a balanced approach to climate action, highlighting that BC already has one of the lowest carbon economies in North America. The submission raises concerns about the economic impact of the emissions cap, which could lead to higher costs for BC households and businesses, reduced industrial competitiveness, and the loss of high-paying jobs. Additionally, ICBA warns that the proposed measures risk undermining the growth of the emerging LNG industry and could inadvertently lead to “carbon leakage,” where investment and production shift to jurisdictions with less stringent regulations.
As Canada’s largest construction industry association, representing over 4,500 members and clients, ICBA continues to advocate for practical, economically sustainable climate policies that align with BC’s competitive position and export-driven economy.
Read the full letter for more details on our recommendations and concerns. Stay tuned for updates as this critical issue evolves.
