In 2019, the federal government announced its intent to move forward with a target of net-zero greenhouse gas (GHG) emissions by 2050. With the introduction of Bill C-12 (An Act respecting transparency and accountability in Canada's efforts to achieve net-zero greenhouse gas emissions by the year 2050) on November 19, 2020, Canada joins over 120 countries in committing to net-zero emissions by 2050, including the UK, Germany, France, and Japan.

Once passed, Bill C-12 will legally bind the federal government to a process to achieve net-zero emissions by 2050. In addition, the legislation will:

• set rolling five-year emissions-reduction targets (starting in 2030), and require plans to reach each target and report on progress;
• enshrine greater accountability and public transparency into Canada's plan for meeting net-zero emissions by 2050 by providing for independent third-party review by the Commissioner of the Environment and Sustainable Development;
• require the federal government to publish an annual report describing how departments and federal Crown corporations are considering the financial risks and opportunities of climate change in their decision-making;
• establish the Net-Zero Advisory Body to provide independent advice to the federal government on the best pathway to reach its targets.

These provisions are discussed in further detail below.