Industrial carbon price cuts three times the emissions of consumer levy: report

OTTAWA — Canada’s carbon price could slash greenhouse−gas emissions by more than 100 million tonnes a year by 2030, but only about one−fifth of that will come from the consumer carbon price at the centre of Conservative attacks.

A new analysis published today by the Canadian Climate Institute says that together, all existing climate policies should slash emissions by 226 million tonnes in 2030.

That’s one−third of the total emissions Canada produced in 2021, the most recent year for which statistics are available.

The new analysis says consumer carbon pricing charged on fuel purchases will contribute between 19 million and 22 million tonnes annually.

The pricing policy applied to big industrial polluters will cut between 53 million and 90 million tonnes.

Report co−author Rick Smith says the industrial carbon price is the single biggest contributor to Canada’s climate plan and the political attention heaped on the consumer policy is misplaced.

The Conservatives intend to force a vote of no confidence in the House of Commons later today as the Liberal government ignores their calls not to hike the price another $15 per tonne on April 1.

This report by The Canadian Press was first published March 21, 2024.

The Canadian Press

Photo: