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

South Okanagan pays it forward to BC Wildfire Service firefighters

Community members thank Eagle Bluff firefighters through Tim Hortons donations

Penticton students receive over $46,000 in bursaries

Twenty-two students will receive the Community Foundation bursaries for the 2019 school-year

Lake-to-lake cycling route to be discussed at Pedal Penticton

City staff to discuss the route but there will also be a number of exhibits for attendees to explore

The Offspring and Sum41 ready to rock Penticton

The Offspring and Sum 41 will stop in Penticton to the South Okanagan Events Centre

Motorcyclist involved in Westside Road crash

Air ambulance assists while motorists face lengthy delays

Knife-wielding man tries to break into Okanagan retirement home

Seniors and staff shaken by incident and upset with RCMP response

B.C. manhunt suspects left cellphone video before they died: family

Family member says Kam McLeod, Bryer Schmegelsky recorded final wishes

Okanagan dog ‘Alice’ to get surgery thanks to BC SPCA crowdfunding

With the surgery, Alice’s prognosis is ‘excellent,’ stated the BC SPCA

Suspicious item forces 47 to evacuate plane at Kelowna airport

Kelowna RCMP continue investigation of suspicious item on airplane

Kelowna man nearly drowns on Okanagan Lake

The victim is in serious yet stable condition but his condition has worsened since going to hospital

Okanagan youth protest Tolko logging

Small group gathers outside Tolko head office

Kelowna International Airport threat deemed non-credible

Normal operations have resumed following note of a suspicious item on board a WestJet plane

Okanagan bus driver assaulted for asking patron not to smoke

59-year-old in hospital with non-life threatening injuries

Most Read