Saturday, July 16, 2016

Canada to Introduce National Carbon Price in 2016, Minister Says

Ottawa is looking to set the carbon price floor at least at the level that exists in Quebec and will soon be adopted by Ontario under the cap-and-trade plan. (Credit: Kevin Frayer/Getty Images) Click to Enlarge.
Canada will have a national price on carbon emissions by the end of this year, Environment Minister Catherine McKenna says.n

The federal government will publish an emissions reduction plan this fall that could include expanded, standardized emissions disclosure requirements for companies, McKenna said in an interview with Danielle Bochove on Bloomberg TV Canada.

McKenna spoke after appearing with Bank of England Governor Mark Carney in Toronto on Friday.  Her comments come as provinces work to reach a deal on whether to set a mandatory cross-Canada carbon price, a plan not all provinces support.

“What we want to see is uniformity in terms of a national price, also that we’re doing it in a thoughtful way, and provinces and territories need to decide what they’re doing with the revenues,” McKenna said.
A carbon price is generally considered either a tax or a cap-and-trade program.  Four Canadian provinces, making up more than 80 percent of the country’s population, already have or are introducing a carbon price.

McKenna has long been pushing for a national price while sidestepping questions of whether she’d unilaterally impose one.  She has regularly said she’s “committed” to a price.

McKenna said she met with major Canadian companies taking part in the Carbon Pricing Leadership Coalition, including Air Canada and Suncor Energy Inc.

“They say they understand a price on carbon is the most impressive way to reduce emissions and foster innovation that we need.  So it’s great.  I feel we are really creating the momentum and the stars are aligning and industry is aligning with us.”

Read more at Canada to Introduce National Carbon Price in 2016, Minister Says

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