We are pleased to see that Canada is putting a price on carbon emissions, through a combination of federal, provincial and territorial policies. Most of the world’s major economies are now pricing carbon, because it is the most cost-effective way to reduce emissions and stimulate clean innovation.
By starting slowly and ramping up over five years, the policy allows for a gradual adjustment to a lower carbon economy. Moreover, all revenues will stay in the province or territory they came from, offsetting costs while maintaining the incentive to reduce emissions. The policy also includes much-needed measures to address competitiveness, and support communities, sectors and Indigenous Peoples in making the low carbon transition; we look forward to hearing further details of that plan.
A carbon price is a foundational policy to reduce emissions and build a low carbon economy. It should be part of an overall approach that includes complementary climate and energy efficiency policies, transitional support for affected workers and communities, and measures to drive the innovation, infrastructure, skills and investment needed for Canada to compete and prosper as the global economy shifts to cleaner growth (as set out in recent reports from Canada’s Economic Strategy Tables, and the Expert Panel on Sustainable Finance). Further details on our recommended approach can be found at www.smartprosperity.ca.
We encourage all governments to work together with communities and businesses to ensure Canada meets its Paris climate commitment, and to build a cleaner, stronger economic future for all Canadians.
Signed by the following members of the Smart Prosperity Leaders Initiative
Meredith Adler, Executive Director, Student Energy
Dominic Barton, Senior Partner, McKinsey & Company
Ross Beaty, Chair, Pan American Silver Corp and Equinox Gold Corp.
Brent Bergeron, Executive Vice President, Corporate Affairs and Sustainability, Goldcorp
John Coyne, Vice President, Legal & External Affairs and General Counsel, Unilever Canada
Michael Crothers, President & Canada Country Chair, Shell Canada
Arlene Dickinson, CEO, Venture Communications
Stewart Elgie#, Professor of law & economics, University of Ottawa
David Hughes, President & CEO, The Natural Step Canada
Greg Kiessling, President, UpCapital Ltd.
Lorraine Mitchelmore#, Chair, National Economic Strategy Table, Resources of the Future
Ken Neumann, Canadian National Director, United Steelworkers
Merrell-Ann Phare, Founding Executive Director, Centre for Indigenous Environmental Resources
David Runnalls, Board President, Pembina Institute
Vicky Sharpe, Founding President & CEO, Sustainable Development Technology Canada
Jean Simard, President & CEO, Aluminium Association of Canada and co-founder, SWITCH
Marcia Smith, Senior Vice-President, Sustainability and External Affairs, Teck Resources
Merran Smith, Executive Director, Clean Energy Canada
Rick Smith, Executive Director, Broadbent Institute
John Stackhouse, Senior Vice President, Office of the CEO, RBC
Kirsten Tisdale, Managing Partner, Government and Public Sector, Ernst & Young Canada
Scott Vaughan, President & CEO, International Institute for Sustainable Development
Annette Verschuren#, Chair and CEO, NRStor; Former President, Home Depot Canada
Rob Wesseling, President & CEO, The Co-operators
#= Co-chair, Smart Prosperity Leaders Initiative
Please note that this is a personal statement of support by the leaders and may not reflect the views of everyone in their respective organizations
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