Emissions in a number of sectors have grown more rapidly than overall emissions in Canada. Because the large industrial emitters are responsible for almost 50% of emissions, there is an urgent need to set greenhouse gas emission reduction targets, through regulation, for all heavy industry sectors, particularly electricity generation using fossil fuels, which accounts for almost 20% of our emissions in Canada. That should also be done for the oil industry, whose emissions also account for about 20% of total emissions, as well as for several other industries -- for example, the chemical and pulp and paper industries, and so on.
The previous government proposed regulating all the major industries through CEPA. The approach that was advocated involved a separate regulation for each industry sector. That would probably be easier. A so-called umbrella regulation would set the main parameters of such a system, while another would establish targets to be met in each sector. Emissions trading could also be used to meet targets.
We have to move forward quickly with this kind of system, so that Canada can honour its international obligations, notably under the Kyoto Protocol.
I would just like to mention, by way of conclusion, that the 25 member countries of the European Union have implemented such a system by means of a European directive. This system has been in operation since January 2005 and applies to some 12,000 industrial facilities.