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

Firefighters have doused a Peachland house fire

Fire crews are still on scene investigating the cause of the BBQ fire which made its way to the home

Okanagan-Shuswap weather: cloudy, rain expected

Environment Canada is calling for a risk of thunderstorms tonight across the Okanagan

Special memorial service to say goodbye to murdered teen

A memorial service and celebratio of life was held Tuesday for murdered teen Elijah-Iain Beauregard

Parking meters, be gone: Kelowna city staff

Council amends financial plan to quickly replace standalone meters in wake of ongoing vandalism

Wilson M. Beck Charity Golf Tournament in Kelowna benefiting YMCA of Okanagan

The tournament is sold out with 144 golfers swinging for the cause

VIDEO: Plant-based burgers may not be as healthy as they seem

Both the Impossible and Beyond Burger have more saturated fat than beef burgers

B.C. mom to go to Europe court in hopes of getting alleged abducted daughter back

Tasha Brown alleges her estranged wife abducted their daughter Kaydance Etchells in 2016

Missing South Okanagan kayaker last seen on Okanagan Lake

Penticton RCMP are asking for assistance in locating a missing kayaker

Lower gas prices slow annual inflation rate to Bank of Canada’s 2% bull’s-eye

Prices showed strength in other areas — led by a 17.3 per cent increase in the cost of fresh vegetables

Part One: The opioid crisis and the B.C. Interior

A personal connection to the crisis: Recovering addicts share their story

B.C. moves to preserve 54 of its biggest, oldest trees

Fir, cedar, spruce, pine, yew set aside from logging

False report of dead body leads police to sex dolls at Manning Park

Princeton RCMP breathed a sigh of relief, momentarily, when they discovered a… Continue reading

Ironman returns to Okanagan after seven-year absence

Subaru Ironman Canada is coming back to Penticton in 2020

Grand Forks fire chief found to have bullied, harassed volunteer firefighter: report

WorkSafeBC, third-party human resources investigation looking into allegations complete

Most Read