• About
    • Which Energy Mix is this?
  • Climate News Network Archive
  • Contact
The climate news that makes a difference.
No Result
View All Result
The Energy Mix
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
SUBSCRIBE
DONATE
No Result
View All Result
The Energy Mix
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities
  FEATURED
Danske Bank Quits New Fossil Fuel Financing January 23, 2023
Extreme Warming Ahead Even as Worst-Case Scenarios Grow ‘Obsolete’ January 23, 2023
Notley Scorches Federal Just Transition Bill as Fossil CEO Calls for Oilsands Boom January 23, 2023
IRON OXIDE: New Battery Brings Long-Duration Storage to Grids, 750 Jobs to West Virginia January 23, 2023
BREAKING: GFANZ Banks, Investors Pour Hundreds of Billions into Fossil Fuels January 17, 2023
Next
Prev

Carbon Pricing Saves 90 Megatonnes by 2022, Leaves Canada 90 Megatonnes Short of Paris Target

May 1, 2018
Reading time: 2 minutes

Alfred Palmer/Wikimedia Commons

Alfred Palmer/Wikimedia Commons

 

The federal floor price on carbon could eliminate up to 90 megatonnes of carbon dioxide by 2022, depending on the specific carbon pricing schemes different provinces and territories put in place, according to a new analysis released yesterday by Environment and Climate Change Canada.

“BREAKING NEWS: Report shows everyone is already pricing #carbon & carbon pricing will cut pollution in Canada,” tweeted Climate Action Network-Canada Executive Director Catherine Abreu. “Sky does not fall. Canadians remain employed.”

  • Concise headlines. Original content. Timely news and views from a select group of opinion leaders. Special extras.
  • Everything you need, nothing you don’t.
  • The Weekender: The climate news you need.
New!
Subscribe

The 90-Mt saving “is like taking every car off the road in Canada or closing 20 to 23 coal plants in a year,” said Environment and Climate Change Minister Catherine McKenna. “Our analysis confirms that carbon pricing works, that it significantly reduces pollution.”

The 13-page analysis says Canada’s GDP will grow about 1.8% per year through 2022, with or without carbon pricing. The floor price, which begins this year at C$10 per tonne and increases to $50 by 2022, will cost the country’s economy about $2 billion, or 0.1%—before factoring in “the prospect of additional growth that could result from clean technology investments spurred on by a higher price on carbon,” The Canadian Press notes.

But “even with carbon pricing and other measures, including eliminating coal-fired power plants, cutting methane emissions from the oil industry, and making cleaner fuels, Canada will still be 90 million tonnes shy of its international emissions targets set in 2015 under the Paris agreement,” The news agency states.

A federal government release says carbon pricing is “key to any credible climate plan because it’s a cost-effective way to significantly reduce pollution while driving clean innovation and creating new jobs. A price on carbon works because it creates a powerful incentive to cut pollution, encouraging people and businesses to save money by making cleaner choices like better insulating their homes or upgrading to more efficient equipment.”

The department adds that “Canadians know polluting isn’t free. Severe weather due to climate change is already costing Canadians billions of dollars a year in insurance costs. Across the country, Canadians have experienced first-hand devastating wildfires, extreme flooding, severe droughts, and stronger storms.”



in Energy / Carbon Pricing & Economics

The latest climate news and analysis, direct to your inbox

Subscribe

Related Posts

EcoAnalytics
Media, Messaging, & Public Opinion

Albertans Want a Just Transition, Despite Premier’s Grumbling

January 23, 2023
188
Climate Denial & Greenwashing

Exxon Had the Right Global Warming Numbers Through Decades of Denial: Study

January 17, 2023
223
Canadian Nuclear Laboratories/flickr
Hydrogen

Hydrogen Patents Reveal Shift Toward Cleaner Technologies

January 16, 2023
89

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

Trending Stories

RL0919/wikimedia commons

Danske Bank Quits New Fossil Fuel Financing

January 23, 2023
2.1k
@tongbingxue/Twitter

Extreme Warming Ahead Even as Worst-Case Scenarios Grow ‘Obsolete’

January 23, 2023
266
Rachel Notley/Facebook

Notley Scorches Federal Just Transition Bill as Fossil CEO Calls for Oilsands Boom

January 23, 2023
253
James Vincent Wardhaugh/flickr

Canada Sidelines Ontario’s Ring of Fire, Approves Separate Mining Project

December 4, 2022
378
Weirton, WV by Jon Dawson/flickr

IRON OXIDE: New Battery Brings Long-Duration Storage to Grids, 750 Jobs to West Virginia

January 23, 2023
492
TALL ORDER -- A field of “Freedom” giant miscanthus on Mississippi State University’s South Farm towers over research agronomist Brian Baldwin. Baldwin’s 12-year study of grassy feedstocks indicates the plant is a viable resource for biofuel production. (Photo by MSU Ag Communications/Scott Corey)

Bamboo-like Crop Could Cut U.S. Midwest Warming by 1°C

May 4, 2022
958

Recent Posts

United Nations

Salvage of $20B ‘Floating Time Bomb’ Delayed by Rising Cost of Oil Tankers

January 27, 2023
7
EcoAnalytics

Albertans Want a Just Transition, Despite Premier’s Grumbling

January 23, 2023
188
Sergio Boscaino/flickr

Dubai Mulls Quitting C40 Cities Over ‘Costly’ Climate Target

January 24, 2023
84
hangela/pixabay

New UK Coal Mine Faces Two Legal Challenges

January 24, 2023
43

Gas Stoves Enter U.S. Climate Culture War, Become ‘Bellwether’ for Industry

January 22, 2023
72
Jeff Hitchcock/flickr.

BREAKING: GFANZ Banks, Investors Pour Hundreds of Billions into Fossil Fuels

January 23, 2023
493
Next Post
Breaching the Peace, Sarah Cox

Breaching the Peace Details Hydro Impacts on B.C. First Nations [Book Excerpt]

The Energy Mix - The climate news you need

Copyright 2023 © Energy Mix Productions Inc. All rights reserved.

  • About
  • Contact
  • Privacy Policy and Copyright
  • Cookie Policy

Proudly partnering with…

scf_withtagline
No Result
View All Result
  • Canada
  • UK & Europe
  • Fossil Fuels
  • Ending Emissions
  • Community Climate Finance
  • Clean Electricity Grid
  • Cities & Communities

Copyright 2022 © Smarter Shift Inc. and Energy Mix Productions Inc. All rights reserved.

Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behaviour or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Manage options Manage services Manage vendors Read more about these purposes
View preferences
{title} {title} {title}