The world is racing toward an unprecedented climate emergency. Recent groundbreaking reports leave no doubt that climate change is now the most critical challenge of our times. The latest science is worrisome:
- the IPCC 1.5°C report,
- Canada’s Changing Climate report,
- the U.S. Fourth National Climate Assessment,
- the latest Mauna Loa CO2 (415 ppm) reading,
- the UN report on nature’s accelerating decline.
Canadians agree: we need to do more to combat climate change. And we need a strong and credible plan to do so. Economists agree: carbon pricing should be part of that plan. It’s is a practical, meaningful and fair way to reduce the pollution that is destabilizing our climate and threatening our health. But there are a lot of myths about carbon pricing.
Debunking Myths about Carbon Pricing
Putting a price on pollution should be a no-brainer
We can see and feel the effects of climate change—from forest fires to floods that threaten our homes, to pollution that threatens our kids’ health. Canadians want a serious plan to take action on climate change. We need ambitious actions and policies that match the scope and magnitude of the threats we face. And we will need a suite of tools to do so. By far, the most efficient and effective tool in the climate toolbox is carbon pricing. A climate plan without a carbon pricing is not climate action.
I live in a country which is regarded as a world leader on carbon pricing. Canada’s Greenhouse Gas Pollution Pricing Act sets the national price on greenhouse gas (GHG) emissions for all provinces and territories that do not have their own compliant carbon pricing regime. In spite of this achievement, a more ambitious carbon pricing policy is required to reduce worldwide greenhouse gas emissions by 45% below 2005 levels by 2030, as per the IPCC 1.5 °C report.
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