Carbon pricing in Canada

Experts recommend five ways to improve design of carbon pricing across Canada

Retrieved on: 
Monday, June 14, 2021

The expert review did not assess the overall effectiveness of Canada's patchwork of carbon pricing systems.

Key Points: 
  • The expert review did not assess the overall effectiveness of Canada's patchwork of carbon pricing systems.
  • A complementary summary report , produced and published separately by the Institute, identifies five challenges with carbon pricing in Canada, and offers recommendations for improvement.
  • "Federal, provincial, and territorial governments have all moved fast to implement broad-based carbon pricing that can drive down emissions.
  • Our assessment highlights the need for governments to work more cooperatively to ensure carbon pricing delivers on its promise."

Fraser Institute News Release: Ottawa’s $170 per tonne carbon tax by 2030 will result in over 200,000 lost jobs

Retrieved on: 
Tuesday, March 16, 2021

OTTAWA, March 16, 2021 (GLOBE NEWSWIRE) -- The federal governments plan to impose a $170 per tonne carbon tax by 2030 will result in about 202,000 fewer jobs in Canada, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank.

Key Points: 
  • OTTAWA, March 16, 2021 (GLOBE NEWSWIRE) -- The federal governments plan to impose a $170 per tonne carbon tax by 2030 will result in about 202,000 fewer jobs in Canada, finds a new study released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank.
  • And even taking the carbon tax rebate into account, the average Canadian worker will still have $1,800 less income every year as a result of the $170 carbon tax.
  • The contraction in the economy from the higher carbon tax was also determined to adversely affect government finances.
  • Specifically, provincial and federal deficits are projected to increase by $24 billion once the new carbon tax is fully implemented.

TransAlta Receives an A- Industry Leader Score from CDP and Responds to the Release of the Government of Canada's new Climate Plan

Retrieved on: 
Monday, December 14, 2020

Sustainability is part of our DNA and we are proud to be recognized as a leader by CDP," shared Dawn Farrell, President and CEO of TransAlta.

Key Points: 
  • Sustainability is part of our DNA and we are proud to be recognized as a leader by CDP," shared Dawn Farrell, President and CEO of TransAlta.
  • On December 11, 2020, the Government of Canada released its new climate plan titled A Healthy Environment and a Healthy Economy.
  • Among other measures, the plan proposes an increase in Canada's national carbon price benchmark to $170 per tonne of CO2e by 2030.
  • TIER has been confirmed by the federal government as compliant with the 2020 federal benchmark for carbon pricing systems.

Over 120 Energy Efficiency projects set to move ahead for schools in Manitoba thanks to carbon pollution pricing proceeds

Retrieved on: 
Thursday, September 17, 2020

Each project will help schools save money, reduce energy costs and enable them to actively take part in Canada's climate plan.

Key Points: 
  • Each project will help schools save money, reduce energy costs and enable them to actively take part in Canada's climate plan.
  • Through this funding, schools in Manitoba will benefit from better-insulated windows, newer heating and cooling systems and other energy efficiency projects.
  • This funding comes from the proceeds from the federal carbon pollution pricing system, which invests in projects that reduce carbon pollution, save money, and create good, green jobs.CAIF programming was launched in May 2019 and returns carbon pollution pricing proceeds to the jurisdictions from which they were collected.
  • All direct proceeds raised from the federal carbon pollution pricing system are being returned to the province where they were collected.

Over 160 Energy Efficiency projects set to move ahead for schools in Saskatchewan thanks to carbon pollution pricing proceeds

Retrieved on: 
Wednesday, September 16, 2020

Each project will help schools save money, reduce energy costs and enable them to actively take part in Canada's climate plan.

Key Points: 
  • Each project will help schools save money, reduce energy costs and enable them to actively take part in Canada's climate plan.
  • Through this funding, schools in Saskatchwan will benefit from better-insulated windows, newer heating and cooling systems and other energy efficiency projects.
  • This funding comes from the proceeds from the federal carbon pollution pricing system, which invests in projects that reduce carbon pollution, save money, and create good, green jobs.CAIF programming was launched in May 2019 and returns carbon pollution pricing proceeds to the jurisdictions from which they were collected.
  • All direct proceeds raised from the federal carbon pollution pricing pollution system are being returned to the province where they were collected.

New Brunswick's government to put a price on carbon pollution from fuels, next year

Retrieved on: 
Wednesday, December 11, 2019

A price on pollution is one of the best tools we have to spur innovation and cut pollution while keeping life affordable for Canadian families.

Key Points: 
  • A price on pollution is one of the best tools we have to spur innovation and cut pollution while keeping life affordable for Canadian families.
  • NewBrunswick's carbon price will go into effect on April1, 2020at a rate of $30pertonneonce the province passes the relevant legislation.
  • The federal price on carbon pollution has two components: a fuel charge across the economy and a carbon-pricing system for heavy industrial sectors that face international competition.
  • We congratulate NewBrunswick's government for moving forward with an effective price on the carbon pollution from fuels throughout its economy."

Canada announces support for new carbon-pricing initiative at COP25

Retrieved on: 
Tuesday, December 10, 2019

At the international climate conference COP25, Canada's Minister of Environment and Climate Change, the Honourable Jonathan Wilkinson, today announced a contribution of $5million to support the Partnership for Market Implementation, at the World Bank.

Key Points: 
  • At the international climate conference COP25, Canada's Minister of Environment and Climate Change, the Honourable Jonathan Wilkinson, today announced a contribution of $5million to support the Partnership for Market Implementation, at the World Bank.
  • This partnership will assist developing countries in designing, piloting, and implementing carbon-pricing tools that work for them.
  • The initiative will leverage other existing World Bank initiatives on carbon pricing such as the Carbon Pricing Leadership Coalition, which includes the Government of Canada.
  • In 2009, countries agreed to mobilize from public and private sources US$100 billion a year, by 2020, to help developing countries fight climate change.

Alberta's new approach to pricing pollution for heavy industry meets federal benchmark

Retrieved on: 
Friday, December 6, 2019

The Regulation will go into effect on January1, 2020, replacing Alberta's previous approach to pricing pollution from industry.

Key Points: 
  • The Regulation will go into effect on January1, 2020, replacing Alberta's previous approach to pricing pollution from industry.
  • As a result, the federal output-based carbon-pricing system, the large industry portion of the backstop, will not go into effect in Alberta.
  • The federal price on pollution has two components: a fuel charge across the economy and a pricing system for heavy industrial sectors that face international competition.
  • It's good news that Alberta's government has adopted an effective price on carbon pollution for its industry sectors, building on over a decade of experience with pricing pollution from industry in Alberta.

Hidden climate policies have higher costs than carbon pricing: Ecofiscal Commission

Retrieved on: 
Wednesday, November 27, 2019

A package of well-designed, flexible regulationswith policies similar to the Clean Fuel Standardcan perform almost as well as carbon pricing.

Key Points: 
  • A package of well-designed, flexible regulationswith policies similar to the Clean Fuel Standardcan perform almost as well as carbon pricing.
  • Relying on carbon pricing to bridge the gap requires steadily increasing the carbon price by around $20/tonne every year from 2023 until 2030.
  • If we want to minimize the costs of doing so, carbon pricing should play a central role.
  • The Ecofiscal Commission has consistently found that carbon pricing is the lowest-cost way to achieve our emissions targets.

Carbon leakage: an unintended (but manageable) side-effect of carbon pricing

Retrieved on: 
Monday, November 4, 2019

But carbon pricing can also result in unintended consequences such as carbon leakage.

Key Points: 
  • But carbon pricing can also result in unintended consequences such as carbon leakage.
  • Carbon leakage occurs when firms move their operations from Canada to other countries in order to avoid carbon pricing.
  • Despite growing use of carbon pricing in Canada, little work is publicly available on quantifying the potential for carbon leakage here, explains Murillo.
  • Among EITEIs, carbon pricing competitiveness pressures are the highest for the forestry, wood, pulp and paper products, and oil and gas industries.