IISD Recognizes Canada’s Carbon Pricing Proposal as an Important First Step

Today the Government of Canada announced its plans to implement Canada-wide pricing to curb carbon pollution.

The International Institute of Sustainable Development (IISD) recognizes this as an important first step in the federal government’s plan of action to meet the emission targets set out in the Paris Agreement on Climate Change.

Canada plans to charge a minimum of CAD 10 per tonne on carbon pollution from 2018, increasing by CAD 10 a year, and reaching CAD 50 in 2022.

“Today’s announcement is a clear signal that we are all in this together. It highlights the important role that pricing carbon pollution can play in reducing emissions while driving innovation,” said Amin Asadollahi, IISD’s North American Lead on Climate Mitigation.

“Carbon pricing is the most effective market mechanism of curbing carbon pollution. The Government of Canada is demonstrating strong leadership on climate change with this proposal. This price will be re-evaluated at a crucial moment in 2022. This review can inform Canada’s progress at the international level prior to the first global emissions stocktaking exercise scheduled for 2023. In addition to the carbon price, complementary measures will be necessary to ramp up efforts in order to put us on the right path to achieving the 2030 climate targets,” said Asadollahi.

“As the world’s temperatures soar, along with its levels of atmospheric carbon dioxide, we are all feeling a sense of urgency when it comes to taking action. Carbon pricing, therefore, should also form part of a larger diversified initiative to cut carbon emissions. It will also be important to push forward an accelerated phase-out of coal-fired electricity generation, championing clean and renewable energy sources, addressing emissions in the transportation sector and encouraging business action on climate.”