Alberta energy deal does little to reduce Canada’s emissions: report
The institute said relaxed credit rules and a likely oversupply of cheaper offsets could leave emissions largely unchanged, even as Alberta and Ottawa target a carbon price floor.
- On Thursday, the Canadian Climate Institute released a study suggesting Ottawa's energy deal with Alberta will do little to reduce Canada's emissions due to inefficiencies in the industrial carbon pricing system.
- Prime Minister Mark Carney and Alberta Premier Danielle Smith signed the implementation agreement on May 15, targeting an effective carbon price of $130 per tonne by 2040.
- Relaxed stringency rates allow industries to build credit stockpiles under the agreement, creating an oversupply that discourages emissions-reduction investments while the system maintains prices but loses the underlying signal to cut emissions.
- Market prices for carbon credits dropped to between $30 and $35 per tonne, with the report stating the system mostly delivers "paper compliance" rather than actual emissions reductions.
- While Carney floated buying credits to generate scarcity, study author Dave Sawyer warned that "tightening rates" might not fix the design, potentially resulting in "throwing good money after bad.
29 Articles
29 Articles
The "minimal" benefits of the Memorandum of Understanding are not sufficient to justify the increase in oil production.
The Toronto Star
Alberta energy deal does little to reduce Canada’s emissions: report
Last month, Prime Minister Mark Carney and Alberta Premier Danielle Smith signed an implementation agreement on industrial carbon pricing to bring Alberta’s effective carbon price to $130 per tonne by
Winnipeg Free Press
Alberta energy deal does little to reduce Canada's emissions: report
OTTAWA - Ottawa's energy deal with Alberta will do little to reduce Canada's emissions, a new study released Thursday by the Canadian Climate Institute suggests.
The agreement reached in May between Alberta and the federal government could increase greenhouse gas (GHG) emissions in the country, which must instead fall significantly to reach carbon neutrality, concludes an analysis by the Climate Institute of Canada.
Coverage Details
Bias Distribution
- 80% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
