Canadian government’s updated climate plan includes increase to carbon pricing | FULL

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Canadian government’s updated climate plan includes increase to carbon pricing | FULL

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by pmnationtalk on December 15, 2020178 Views

Credit:Global News

The Canadian federal government’s carbon pricing in provinces without their own emissions reductions plans will keep rising after 2022 to hit a total of $170 per tonne by 2030 under a major new climate plan unveiled Friday.

Prime Minister Justin Trudeau and several ministers announced the details of how they plan to fulfil the pledge to get the country to exceed its 2030 emissions reductions targets under the Paris Accord.

The plan involves billions in new funding for green vehicles and infrastructure, as well as changes to the Clean Fuel Standard set to take effect in late 2021.

Among the most prominent details is clarity on exactly how much the federal government plans to raise the levy on greenhouse gas emissions, which is set to hit $50 per tonne in 2022.

Under the new plan, that price will continue to rise by $15 each year starting in 2023 until it hits $170 per tonne in 2030, while the rebates Canadians get in turn will also rise, and shift from annual to quarterly payments.

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