Trudeau takes carbon pricing debate to the global stage at COP26

Prime Minister Justin Trudeau will push the world to barter a minimal value on air pollution on the COP26 local weather talks in Glasgow at the moment.

Trudeau will begin his second and closing day on the annual local weather negotiations by co-hosting a carbon pricing occasion the place he’ll showcase Canada’s carbon value as one of the formidable on the planet.

He began the primary day with a speech calling on the remainder of the world to comply with Canada’s lead and negotiate a world minimal carbon value.

He compares the concept to the 15-per-cent minimal company tax greater than 130 international locations have now signed on to implement in a bid to cease huge multinational firms from avoiding taxes by funneling their income by low-tax international locations.

Carbon pricing has been a political minefield in Canada, with opposing conservative provincial premiers taking the struggle towards one all the best way to the Supreme Courtroom, which upheld this system.

The Conservative Social gathering nationally, lengthy an opponent of the coverage as a “tax on all the things,” is now itself engaged in an inner debate in regards to the deserves.

Chief Erin O’Toole promised to implement a model of a carbon value within the current election with a rewards-card like system.

Setting Minister Steven Guilbeault stated Monday that he thinks this COP assembly might be the one which sparks the beginning of an actual negotiation towards a world value on carbon.

He stated there’s a degree of curiosity in the concept he has by no means seen earlier than.

“So is it a performed deal?” he requested. “Completely not. May Glasgow be the second that we truly begin engaged on creating one thing like that? I believe it has the potential to do this.”

Canada’s carbon value began in 2019 at $20 a tonne and is ready to rise to $170 a tonne by 2030. The present value of $40 a tonne provides about 8.8 cents a litre to gasoline, or about $3.50 extra each time you fill you automotive with 40 litres of gasoline.

However rebate cheques are included with tax returns to make this system income impartial. The thought is {that a} carbon value should not go away households with much less cash, however present an incentive to seek out methods to chop down on fossil gasoline use by making it value extra.

It additionally applies to pure gasoline, propane, jet gasoline, and some other liquid gasoline, primarily based on the load of greenhouse gasoline emissions produced when that gasoline is burned.

Canada’s nationwide value solely applies in provinces which haven’t got an equal provincial coverage in place — Alberta, Saskatchewan, Ontario and New Brunswick.

A separate coverage for large industrial emitters makes use of the identical value however is simply charged on a portion of whole emissions produced, fairly than on the fuels these emitters purchase to function their equipment.

The Residents Local weather Foyer says there 64 carbon pricing insurance policies in place around the globe, together with a direct value on carbon emissions, and cap-and-trade sort methods.

Greater than two dozen are nationwide insurance policies, and the remaining are subnational together with state or provincial governments within the U.S. and Canada, and cities like Tokyo.

The USA and Australia are the one two totally developed economies with out some type of carbon pricing.

This report by The Canadian Press was first printed Nov. 2, 2021.

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