Canada Leads the Way on a Carbon Price
Last week Canada’s Environment Minister announced that a carbon price will be mandatory for all provinces. While British Columbia, Alberta, Ontario and Quebec—Canada’s four largest provinces—already have carbon prices in place, policymakers in some of the remaining six provinces have expressed concern about the potential impact on energy prices. This announcement follows other initiatives of the Trudeau administration aimed at making Canada a leader in greenhouse gas mitigation in the Americas: Canada has also announced plans towards retiring all coal-fired power plants, reducing methane emissions, and building up renewable generation. Critics, however, point out that Canada intends to ratify the Paris climate accord before formally developing its own national emission reduction plan. Canada’s current climate plan was put in place by the former administration and calls for carbon emissions to be reduced by just 30 percent below 2005 levels by 2030.