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The US March seasonally adjusted CPI and core CPI month-on-month rate, the unadjusted CPI and core CPI year-on-year rate, and Canadas March employment figures will be released in ten minutes.Pakistani media confirmed that an Iranian delegation has arrived for negotiations, with key talks between Iran and the United States scheduled for tomorrow.On April 10th, Federal Reserve official Daly stated that the U.S. already had work to do to address inflation before the oil price shock, and now that work simply needs to take longer. If the Iranian conflict is resolved quickly and oil prices fall, a rate cut is "not impossible"; however, if inflation remains higher than expected for an extended period, the Fed will remain on the sidelines until it is confident that the inflation problem has been resolved. She believes that the likelihood of a rate hike is lower than a rate cut or maintaining the current rate. Daly pointed out that persistently high oil prices will mean higher inflation, but will also affect economic growth. She has already seen higher prices transmitted into the economy, with people reducing travel due to concerns about rising costs. However, she emphasized that there is no fundamental price increase at present. She believes it is necessary to observe how the conflict develops and how businesses pass on price increases. She pointed out that the real question is whether the ceasefire can be sustained; if it can, then the CPI data is irrelevant; high inflation data itself will not surprise anyone. She stressed that reducing the inflation rate to 2% is crucial, but doing so at the expense of employment would plunge households into hardship. Currently, the risks to the Fed achieving its full employment and inflation targets are roughly balanced.Federal Reserves Daly: High inflation data will not surprise anyone.Federal Reserves Daly: The real question is whether the ceasefire can last. If it can, then the CPI data is irrelevant.

Canada Introduces Carbon Offset Certificates to Combat Emissions

Haiden Holmes

Jun 09, 2022 11:19

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Canada began a credit system for greenhouse gas offsets on Wednesday, a significant component of its goal to reduce carbon emissions, beginning with a set of rules outlining how projects might create tradable credits by absorbing landfill gas.


The government reported that guidelines for four additional areas, including agriculture and forest management, are in development. This summer, it will also begin creating rules for carbon capture technology, on which Canada's highly polluting oil industry is relying to reduce emissions.


The Liberal government of Prime Minister Justin Trudeau has vowed to reduce climate-warming emissions by 40-45 percent below 2005 levels by 2030. 7 percent of Canada's total carbon output comes from greenhouse gas emissions from trash, including landfills.


The greenhouse gas offset credit system is designed to enable a domestic carbon offset trading market, and the government has stated that it will generate new economic opportunities for businesses and municipalities that reduce emissions.


Participants may register projects and earn one tradable offset credit for each tonne of emissions reduced or removed from the environment, provided their initiatives adhere to the federal offset regulations that specify which activities qualify.


The credits can subsequently be sold to others, such as big industrial polluters obligated to limit carbon pollution or businesses voluntarily offsetting their emissions.


"Beginning with landfills, we are implementing a market-based framework to encourage firms and municipalities to invest in pollution-reducing technology and innovations," stated Environment Minister Steven Guilbeault.


The government anticipates that the price of carbon credits would closely mirror Canada's carbon pricing, which is presently set at C$50 per tonne and will increase to C$170 per tonne by 2030.


However, environmental groups cautioned that enabling polluters to purchase offset certificates rather than reducing their own emissions could jeopardize climate goals.


Greenpeace Canada spokesman Shane Moffatt stated, "Offsetting does not prevent carbon from entering the atmosphere and warming our planet; it merely keeps it off the books of large polluters who are accountable."


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