Alberta-Ottawa agreement both improves and hobbles Canada’s most important climate policy
The Alberta-Canada Memorandum of Understanding (MOU) has been announced, which makes slight improvements to industrial carbon pricing in Alberta. However, it also solidifies a low level of stringency for carbon pricing across Canada, limiting potential emissions reductions. Critics argue that the agreement fails to adequately address the issues within Alberta's carbon pricing system, which could hinder climate progress in the long term.
- ▪The MOU locks in incremental climate progress for Canada but falls short of significant improvements.
- ▪Alberta's industrial carbon pricing system is currently dysfunctional, with low carbon-credit prices undermining investment incentives.
- ▪The agreement sets a minimum credit price of $60 per tonne by 2030, which is considered too low to drive necessary emissions reductions.
Opening excerpt (first ~120 words) tap to expand
Open this photo in gallery:The Alberta-Canada MOU cements a low level of stringency around industrial carbon pricing for the foreseeable future, the Canadian Climate Institute's Dale Beugin, Dave Sawyer and Rick Smith write.Jeff McIntosh/The Canadian PressShareSave for laterPlease log in to bookmark this story.Log InCreate Free AccountDale Beugin is executive vice-president at the Canadian Climate Institute. Dave Sawyer is principal economist at the Canadian Climate Institute. Rick Smith is president of the Canadian Climate Institute.The newly announced Alberta-Canada Memorandum of Understanding (MOU) implementation agreement locks in incremental climate progress for Canada. If that sounds like we’re damning it with faint praise, that’s because we are.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at The Globe and Mail.
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