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NEIA supports implementation of provincial carbon price; programs to help address economic challenges and support technology development opportunities will be critical

For Immediate Release
October 23, 2018

The Newfoundland and Labrador Environmental Industry Association (NEIA) supports the implementation of a carbon pricing program in the province.

“Indisputably, climate change is impacting Newfoundland and Labrador. As contributors to the problem, we have to accept responsibility and take action,” says Kieran Hanley, NEIA’s Executive Director.

“Carbon pricing is the most effective mechanism at our disposal to decrease greenhouse gas emissions,” says Hanley. “Evidence from jurisdictions around the world – including from some Canadian provinces – demonstrates that this is the most cost-effective approach to achieve positive environmental outcomes while allowing for robust economic growth.”

Hanley says the economy could face new challenges in a business environment where greenhouse gas emissions are priced, but that government can help decrease that burden. “Revenues generated from carbon pricing can be used to mitigate economic impact for businesses and individuals, whether that be through reductions in other forms of taxation, direct rebates, assistance to more vulnerable segments of the population, or investments to help companies develop and apply clean technologies in their operations.” Hanley noted that key sessions of its recent Newleef conference were devoted to this subject, featuring internationally recognized economist Glen Hodgson. “Those industries and businesses that can find new efficiencies to avoid greenhouse gas emissions will become more productive and more competitive,” Hanley says.

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Pricing carbon also presents new opportunities for innovators to develop products and services that reduce greenhouse gas emissions, according to Hanley. “Whether it’s in oil and gas, mining, retail, or any other industry in Newfoundland and Labrador, the solutions that we create here can be exported worldwide,” says Hanley, noting that the province boasts a growing cluster of clean technology companies. “The world is clearly moving towards a lower-carbon future, and there is significant global appetite for technologies that can facilitate that transition.” Hanley says NEIA hopes to see increased government support for the commercialization of clean technologies developed in Newfoundland and Labrador.

“NEIA looks forward to hearing more from the provincial government about what supports will be made available to help the private sector both adapt to the challenges and to take advantage of the associated opportunities.”

NEIA is a not-for-profit association of businesses that promotes the development of clean technology and the growth of the green economy in Newfoundland and Labrador. NEIA has over 200 members. More information can be found at http://www.neia.org. More information on NEIA’s Newleef 2018 conference can be found at www.newleef.ca.

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Media Contact:
Kieran Hanley
kieran@neia.org

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