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

Comments are closed

Just Posted

47 new COVID-19 cases Tuesday in Alberta, still 620 active cases

3 active COVID-19 cases remain in Red Deer

Lacombe Museums announce reopening plan

Michener House Museum & Archives open July 2; Lacombe Blacksmith Shop Museum on July 16

PHOTO: Lacombe Look Back

Canada Day 1923 in Lacombe

COVID-19: Central zone at four active

Alberta confirms 130 cases Monday

Albertans get an extra free order of COVID-19 masks

Packages will be available July 13 at fast food restaurants

PODCAST: Black Lives Matter in central Alberta Part 2

More insight into the Black Lives Matter movement of central Alberta

PODCAST: The Expert tackles the return of sports

Cam Moon, Joe Whitbread, Byron Hackett and Todd Vaughan discuss how sports can come back

Photos surface of Andrew Scheer failing to wear mask while travelling

Photos surface of Andrew Scheer failing to wear mask while travelling

N.L. officials warn of potential fines in response to crowded bar photos

N.L. officials warn of potential fines in response to crowded bar photos

Promise of COVID-19 funds to support disabled Canadians remains in limbo

Promise of COVID-19 funds to support disabled Canadians remains in limbo

Charities battered by COVID-19 say federal support desperately needed

Charities battered by COVID-19 say federal support desperately needed

Turbulence in Canadian opinion on airlines COVID-19 response: poll

Turbulence in Canadian opinion on airlines COVID-19 response: poll

Canadian airlines accused of ignoring COVID precautions, denying refunds

Canadian airlines accused of ignoring COVID precautions, denying refunds

Budget officer pegs cost of basic income as calls for it grow due to COVID-19

Budget officer pegs cost of basic income as calls for it grow due to COVID-19

Most Read