Monday, April 3, 2023
The federal government recently made changes to carbon pricing, but will it be enough to impact Canada’s climate change goal of reaching net-zero carbon emissions by 2050?
On April 1, 2023 the federal carbon tax increase came into effect in Ontario, Manitoba, Saskatchewan, Alberta, Yukon and Nunavut, and will be joined by Newfoundland and Labrador, Nova Scotia, and Prince Edward Island on July 1.
The fuel charge is rising by 30 per cent from $50 per tonne of emissions to $65. This will translate to an increase of roughly three cents per litre for gas, reaching a total of 14 cents per litre. To offset the impact to Canadians, the government announced that it is also increasing the size of the carbon price rebate cheques issued to families.
Dr. Ryan Riordan (Smith School of Business and Research Director for the Institute for Sustainable Finance) is available to speak to what impact this change might have on Canada’s climate targets, emission reduction plans, and the carbon market.
To arrange an interview with Dr. Riordan, please contact Media Relations Officer Mitchell Fox (343-363-1794) or Mitchell.Fox@queensu.ca at Queen’s University News and Media Services Department in Kingston, Ont., Canada.