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In the News

Canada introduces their first carbon price

Geoff Riley

10th December 2016

The Canadian government has announced the introduction of their first national carbon price as part of their strategy to increase investment in renewables and meet their global climate change targets.

Under the new plan, carbon pollution in Canada would cost C$10 (£6) a tonne in 2018, rising by C$10 a year until it reaches C$50 in 2022. Canadian provinces can either implement a carbon tax or an emissions cap-and-trade market.

In November 2016, Canada announced it would phase out the use of coal-fired electricity by 2030.

The province of Saskatchewan has not signed up to the proposals claiming that a new carbon price would damage the competitiveness and profitability of many of their major businesses.

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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