Canada's Ecofiscal Commission finds that some -- but not all -- additional GHG policies can support carbon pricing in driving low-cost emissions reductions
OTTAWA, ON--(Marketwired - June 08, 2017) - Canada's Ecofiscal Commission today released a new and timely report, Supporting Carbon Pricing: How to identify policies that genuinely complement an economy-wide carbon price.
With the signing of the Pan-Canadian Framework on Clean Growth and Climate Change in December 2016, Canadian governments -- both provincial and federal -- are moving forward with non-pricing climate policies, to complement their carbon price. Some non-pricing policies make sense, and support carbon pricing by contributing toward low-cost GHG emissions reductions. Yet others can be expensive. How can governments identify genuinely complementary policies? And what is the right policy mix of pricing versus non-pricing policies?
Supporting Carbon Pricing helps governments answer these questions by providing a comprehensive framework for the design and evaluation of climate policies. Genuinely complementary policies are ones that:
The full report and executive summary are available at ecofiscal.ca/complementary.
Quick Facts
Additional Resources
Quotes
"Carbon pricing should do the lion's share of the work, as it is the most cost-effective way to reduce greenhouse gas emissions. If and when other climate policies are required, they should also be cost-effective. Our research provides a framework to identify these complementary policies. Only those that do something the carbon price can't do -- and that are low-cost -- should be implemented."
Chris Ragan
Chair, Canada's Ecofiscal Commission
Associate professor of economics at McGill University
"The Ecofiscal Commission report shows that some climate policies, though well-intentioned, are not sensible due to their high costs. In these cases, we'd be better off relying on carbon pricing to drive lowest cost emissions reductions. Good policy can combat climate change and strengthen our economy -- but we need to do it carefully."
Jim Dinning
Chair, Western Financial Group
Former Treasurer of Alberta
Adviser, Canada's Ecofiscal Commission
"The latest report from the Ecofiscal Commission shows governments how to design a smart package of policies including both carbon pricing and complementary policies. Low-cost, flexible policy that reduces GHG emissions and drives clean innovation makes sense for Canadian businesses.
Annette Verschuren
Chair and CEO, NRStor Inc.
Adviser, Canada's Ecofiscal Commission
Contact Information:
Media Contact
Annette Dubreuil
416.825.1474
adubreuil@ecofiscal.ca
Spokespersons: Chris Ragan, Chair of Ecofiscal, is available for interviews in English, including in person in Ottawa on June 8th. Commissioner France St-Hilaire is available for French and English interviews in Montreal on June 8th.