Canada set to boost carbon worth significantly over subsequent decade

An oil refinery in Alberta.

Enlarge / An oil refinery in Alberta. (credit score: Kurt Bauschardt)

In 2018, Canada handed a federal carbon pricing legislation in an effort to scale back greenhouse fuel emissions. The Greenhouse Gasoline Air pollution Pricing Act was designed to not intrude with any provinces that had independently put a worth on carbon, as long as a province’s system met the necessities of the federal legislation. In provinces that hadn’t acted, the federal scheme would kick in as a substitute.

That scheme concerned a tax on fuels beginning at CAN$20 per ton of CO2, rising to CAN$50 by 2022.

On Friday, the federal government introduced its plan for this system via 2030. Though the worth was rising by CAN$10 every year via 2022, it would now go up by CAN$15 every year afterward. Meaning it might attain CAN$170 per ton of CO2 in 2030—notably increased than present costs all over the world. Because of this, the announcement additionally notes that the federal government will “discover the potential of border carbon changes”—a sort of import tax meant to guard home business from items produced in international locations with out related carbon taxes.

Learn 7 remaining paragraphs | Feedback

Related Posts

Leave a Reply

Your email address will not be published.