A few weeks ago, CME published an op-ed in the Finance Post on the Clean Fuel Standards. In the op-ed, among other recommendations, CME called for a full-cost benefit analysis of the CFS to showcase what the full costing will be to implement the standard and what it will mean for Canadian industry. We are also calling on the government to work closely with industry to consult, and perhaps test-pilot, the credit and trading system with industry procurement teams, to ensure that the reporting and documentation is business-friendly and does not add an onerous or costly compliance layer to program participation.
Should none of these conditions be met, we are suggesting that the development of the CFS be put on hold until it can be developed in such a way that balances environmental performance and economic competitiveness.
You can read the op-ed here.