VANCOUVER - May 19, 2017 (David Suzuki Foundation) (Investorideas.com Newswire) The federal government's decision to implement a national carbon price is a landmark incentive for producing cleaner energy in Canada.
"This decision was a long time coming," said David Suzuki Foundation science and policy director Ian Bruce. "We've seen effective carbon pricing in B.C., Quebec and California. Now, with the entire country on board, the federal government has laid the foundation for a forward-thinking climate-action strategy."
The national carbon price supports the economy and public health, Bruce said. "Putting a price on carbon pollution gives an incentive for all Canadians -- individuals, families, communities and businesses -- to be part of the solution."
Since B.C.'s carbon tax was introduced in 2008, the province has seen more than 8,400 British Columbians employed in the clean technology sector. Research suggests that since B.C.'s tax was introduced, British Columbians have paid less on gasoline, on average -- thanks to decreased consumption and more efficient use, incentivized by the price on carbon. As the province's gasoline prices increased by approximately 1 per cent (or $0.01 / L), fuel consumption decreased by 1.6 per cent.
"Going green will be much easier now," Bruce said. "Our research shows that renewable energy will become more affordable, spurring innovation, growing Canada's clean technology economy and making the air we all breathe cleaner."
Although the decision marks a milestone in Canada's climate action strategy, Bruce said further details are still forthcoming and the price on carbon will not be effective on its own.
"This is a big, foundational piece in Canada's climate action strategy, but we need to ensure that the federal government enacts other solutions that are also key to our country's climate plan, such as prioritizing cleaner transportation and phasing out subsidies to fossil fuel companies, which act as a negative carbon price and negate this hard-fought progress."
The carbon price will start at $10 per tonne in 2018, increasing by $10 each year until 2022.
David Suzuki Foundation
David Suzuki Foundation
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.