EDMONTON, Alberta -- Alberta's major industries, including oilsands upgraders and coal-fired power plants, have paid $40 million in fines for failing to meet the province's new limits on greenhouse gas emissions.
A new law that came into effect last July required all major industries to reduce the intensity of their emissions by 12 percent by this spring.
If companies couldn't make the reductions, they were given the option of buying carbon credits in Alberta or paying $15 for every tonne of emissions over the new limit.
The government says preliminary results indicate companies reduced emissions by 2.6 million tonnes through operational changes or investments in verified offsets.
Environment Minister Rob Renner says this is equivalent to take 550,000 vehicles off the road and shows that Alberta is doing more than just talking when it comes to reducing emissions.
But environmental groups say because the limits are based on intensity rather than total emissions, greenhouse gasses from oilsands plants will continue to increase for another decade.
