Canada Exploring Policy Frameworks for International Carbon Markets

The Government of Canada is exploring a policy framework to enable international trading of mitigation outcomes (ITMOs) under Article 6 of the Paris Agreement. This framework would allow Canadian companies to participate in international carbon markets, including those with the European Union. The initiative aims to support the country's burgeoning carbon removal industry, which includes companies like Deep Sky.

The policy development is intended to help the country's economy withstand global trade wars by creating new international market opportunities. By establishing clear accounting and authorization rules, the framework aims to turn Canadian carbon removal projects into international assets, thereby attracting necessary investment.