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Policy Recommendation


Carbon Pricing

Large industry is estimated by the Office of Climate Change and Energy Efficiency to be the biggest contributor to greenhouse gas emissions – accounting for almost half of all emissions. Carbon pricing is considered by economists to be the most efficient way to reduce emissions of this nature, forcing polluters and their consumers to pay while rewarding those investing in more sustainable solutions. In light of recent carbon pricing initiatives in Ontario, Quebec, and Alberta, Newfoundland and Labrador is now among the remaining 15% of the Canadian population that does not price carbon emissions. Firms operating in an economy that does not encourage emissions reductions will be at a disadvantage when exploring national and international markets.

  • Action Recommended:
    Newfoundland and Labrador to develop and implement a carbon pricing strategy.

  • Action Recommended:
    Newfoundland and Labrador carbon pricing strategy to include reinvestment of portion of program revenues in green infrastructure, projects, research, and local technology development.



Discussion

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