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While awaiting a ruling on the tariff case, the U.S. Supreme Court announced that it would release its opinion on February 20.February 13th - MetLife economist Tani Fukui noted in a report that US inflation has been largely unaffected by tariffs. The January CPI was 2.4%, further approaching the Federal Reserves 2% inflation target after Decembers 2.7% reading. "This is a very benign inflation report, supporting our view that the tariff transmission effect will be minimal this year," Fukui said, noting that "most commodity prices have risen modestly." Fukui maintains her forecast of three Fed rate cuts this year, "because our concerns about the labor market far outweigh our concerns about inflation."February 13 – The U.S. Federal Trade Commission (FTC) is accelerating its review of Microsoft (MSFT.O) as part of an ongoing investigation into whether it illegally monopolizes a large share of the corporate computing market through cloud software and artificial intelligence products, including Copilot. Sources familiar with the matter said the agency has issued civil suits to Microsoft’s competitors in the business software and cloud computing markets in recent weeks. These suits include a series of inquiries about Microsoft’s licensing and other business practices. At least six companies have received such suits. Through these subpoenas, the FTC is seeking evidence that Microsoft makes it more difficult for customers to use products such as Windows and Office on competitors’ cloud services. Some sources said the agency is also requesting information about Microsoft bundling artificial intelligence, security, and identity software into products such as Windows and Office.February 13 - According to the Philippine Institute of Volcanology and Seismology, a 5.8-magnitude earthquake struck the southern waters of the Philippines at approximately 10:57 p.m. local time on February 13, with a depth of 10 kilometers. The earthquake is not expected to cause damage, but aftershocks are anticipated.The U.S. Federal Trade Commission (FTC) has intensified its investigation into Microsoft (MSFT.O), seeking evidence from competitors on cloud and artificial intelligence issues.

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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