A study by the University of Waterloo suggests that Canada’s carbon pricing scheme is creating large financial risks, especially for the resource sector. The study, titled Carbon Costs and Credit Risk in a Resource-Based Economy: Carbon Cost Impact on the Z-Score of Canadian TSX 260 Companies and recently published in the Journal of Management and…
Canada’s Carbon Pricing Poses a $256 Billion Financial Risk, Study Finds
$116 Million Spent on Carbon Tax Paperwork Since 2019, Federal Records Show
The Canada Revenue Agency has spent more than $116 million on paperwork related to the carbon tax since 2019, after the Greenhouse Gas Pollution Pricing Act received royal assent in 2018 and came into effect a year later. Revenue Minister Diane Lebouthillier told the House of Commons in a recently-tabled Inquiry of Ministry that $116.53…
Nova Scotia Won’t Use Revenues From Fuel Tax to Buffer Effects of Carbon Pricing
Halifax — Nova Scotia’s finance minister says his government won’t use revenue from its fuel tax to buffer the effects of Ottawa’s carbon-pricing program. Allan MacMaster says all of the tax collected from fuels — including the 15.5 cents per litre added to the price of gasoline — goes toward fixing the province’s roads, and he…
Ottawa Rejects Atlantic Canada’s Request for Extension to Submit Climate Plan
HALIFAX—The federal environment minister on Thursday rejected a request from the premiers of Atlantic Canada for an extension to the deadline to submit their plans to tackle carbon emissions. In a statement to The Canadian Press, Steven Guilbeault said his deadlines “were clearly and repeatedly communicated,” adding that provinces have until Friday to provide their…
Ottawa Opens Consultations on Capping Oil and Gas Emissions
The federal government has released a discussion paper outlining two options to cut emissions from the oil and gas sector to achieve 2030 targets and net zero by 2050, and is calling on stakeholders to provide input. The two options proposed by the Liberal government include the development of a new cap-and-trade system and the…
Ottawa Offers Two Options on Capping Oil and Gas Emissions as Part of Consultations
The federal government has released a discussion paper outlining two options to cut emissions from the oil and gas sector to achieve 2030 targets and net zero by 2050, and is calling on stakeholders to provide input. The two options proposed by the Liberal government include the development of a new cap-and-trade system and the…
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