December 12, 2005

Climate Cent targets transportation

For many countries, including Canada, transportation accounts for the largest proportion of GHG emissions. Anne Niederberger of the firm Policy Solutions outlined Switzerland's Climate Cent initiative, under which the country's oil importers contribute 1.5 Swiss cents per litre of imported oil into a climate protection fund.

The program, officially launched this past October, is expected to yield 65 million euros (nearly $47.5 million (Cdn)) per year, with the funds used to support GHG reduction activities such as development of advanced vehicle technologies and other low-carbon options.

Niederberger estimated that a similar program applied in the U.S. would generate up to $9 billion in funding for GHG emission reduction initiatives.

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