Commercial, GHG Emissions, Industrial, Regulation - December 13, 2016
Canada to roll out nationwide carbon price in 2018
Prime Minister Justin Trudeau has announced that Canada will introduce nationwide carbon pricing in 2018.
Under the plan, carbon pollution would cost C$10 (US$7.60) a ton in 2018, rising by C$10 a year until it reaches C$50 in 2022, Reuters reported Dec. 10. The provinces have the choice to implement a carbon tax or a cap-and-trade market, and those that hold out — provinces Manitoba and Saskatchewan reportedly refused to agree with the plan — will have a price imposed on them from the government.
Trudeau's deal for the plan came together after meeting with the premiers of Canada's 10 provinces and three territories, The New York Times reported.
"We have a pan-Canadian price on carbon pollution because we know it is the best way to ensure better clean jobs," Trudeau said at a Dec. 9 news conference. "This is a way for Canada to show leadership."
Trudeau also admitted that the price set by the plan would not be enough to meet Canada’s commitments under the Paris climate accord.
The New York Times reported:
As expected, the conservative government in Saskatchewan balked at signing the agreement. Brad Wall, its premier, said that while his province planned to significantly reduce emissions, a carbon price would make its farms, mines and oil industry uncompetitive. On Friday he said that was now particularly true if the incoming administration of Donald J. Trump pulled the United States out of its carbon reduction commitments.
The Times said Trudeau dismissed concerns about the plan putting Canada at an economic disadvantage to the U.S.
"Canadian climate policies will be set by Canadians, not by whoever happens to be president of the United States," The newspaper quoted Trudeau as saying.
Check out some of the key moments at SED's Innovation Summit!