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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Studies show Mount Polley Mine breach material re-suspends in Quesnel Lake

High copper levels continue in Quesnel River six years after breach

Drugs, cash seized by Quesnel RCMP during raid on rural property over long weekend

Police seized 507 grams of methamphetamine, 750 ecstasy capsules, 20 grams of cocaine

UPDATE: Wildfire northeast of Clinton put out by BC Wildfire Service

Fire at 51 Mile Creek suspected to be lightning-caused

Barkerville keeping busy hosting tourists amid COVID-19 pandemic

The historic town opened July 3 with a number of safety measures in place

VIDEO: Otter pups learn to swim at B.C. wildlife rescue facility

Watch Critter Care’s Nathan Wagstaffe help seven young otters go for their first dip

Michael Buble among 13 British Columbians to receive Order of B.C.

Ceremony will be delayed to 2021 due to COVID-19

U.S. border communities feel loss of Canadian tourists, shoppers and friends

Restrictions on non-essential travel across the Canada-U.S. border have been in place since March 2`

Rollout of COVID-19 Alert app faces criticism over accessibility

App requires users to have Apple or Android phones made in the last five years, and a relatively new operating system

Alleged impaired driver sparks small wildfire near Lytton after crash: B.C. RCMP

Good Samaritans prevented the blaze from getting out of control

B.C. First Nation adopts ‘digital twinning’ software to better manage territory

Software allows users to visualize what a mountain might look like if the trees on its slopes were logged

All inquiry recommendations implemented after fatal Port Hardy RCMP shooting: Ministry

The Independent Investigations Office of B.C. cleared the RCMP officers involved of wrongdoing

Most Read