Prime Minister Justin Trudeau. (Sean Kilpatrick/The Canadian Press)

Canada may need higher carbon taxes to meet its Paris targets, PBO says

Under current projections, Canada will reduce its emissions to 592 megatonnes of carbon dioxide by 2030

Canada’s parliamentary budget watchdog says a higher price on carbon will be needed if Canada is to meet its Paris Agreement targets for greenhouse-gas emissions.

A Parliamentary Budget Office report today says an extra price on carbon will be needed past 2023 to meet Canada’s targets, starting at $6 a tonne and rising to $52 by 2030.

Combined with the current federal fuel charge, that would add up to $102 per tonne.

Under current projections, Canada will reduce its emissions to 592 megatonnes of carbon dioxide by 2030, but the target is 513 megatonnes — a gap of 79 megatonnes.

The PBO estimated an additional price on carbon after 2023 would cut emissions more and at a lower cost to the economy than the current fuel charge.

The office notes that the estimates were made based on existing policies, and Environment and Climate Change Canada has said the effects of some new clean technologies have not yet been modelled.

ALSO READ: ‘Climate change in action:’ Scientist says fires in Alberta linked to climate change

ALSO READ: Bank of Canada identifies climate change as important economic weak spot

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

Revelstoke celebrates Remembrance Day

The Revelstoke Legion hosted the annual Remembrance Day ceremony Nov. 11. Hundreds… Continue reading

Grizzlies match Princeton Posse 2-2 after double overtime

Their next home game will be Nov. 29 against Sicamous

Commit to living in peace this Remembrance Day: Revelstoke Mayor

This Remembrance Day we acknowledge the 101st year since the end of… Continue reading

Looking back at Revelstoke after WWI

Cathy English Revelstoke Museum & Archives Every year on Nov. 11, people… Continue reading

Jocelyn’s Jottings: No-spend November-Challenge accepted

After years of looking at the bottom line and crumpling up my… Continue reading

VIDEO: Hong Kong police shoot protester, man set on fire

It was the second protester shot since the demonstrations began in early June

Sportsnet fires Don Cherry after negative comments about immigrants

Don Cherry had said immigrants don’t wear poppies like other Canadians do

Trudeau’s new cabinet: Gender parity because it’s 2019? Or due to competence?

Prime Minister Justin Trudeau will soon appoint his new cabinet

Canada among three G20 countries least likely to hit emissions targets

It says Canada, South Korea and Australia are the farthest off

Conservatives’ Scheer wants Trudeau to open Parliament Nov. 25

That’s five days after Justin Trudeau is scheduled to swear in a new cabinet

Coquihalla, Okanagan Connector drivers cautioned due to freezing rain

Special weather statement in effect for highways between Hope, Merritt, Kamloops and Kelowna

Summerland council considers change to meeting schedule

Proposal calls for afternoon session and 6 p.m. evening session for regular meetings

Last remaining Centurion tank from the Korean War makes its journey ‘home’ to B.C.

Tank arrives in B.C. the day before Remembrance Day after a more than 4,500-kilometre transfer

‘Your vehicle burns a lot of fuel:’ Victoria drivers wake up to angry notes

‘This handbill was left on your vehicle because your vehicle burns a lot of fuel,’ notes read

Most Read