Canada is planning to impose a national minimum carbon price on all provinces that do not introduce their own pricing systems, said Federal Environment Minister Catherine McKenna.
The Liberal government’s plan will only affect those provinces that don’t impose their own carbon prices or fail to meet the federal minimum, The Globe and Mail reported.
“It’s mandatory that everyone will have to have a price on carbon,” McKenna said on Sunday. “If provinces don’t do that, the federal government will provide a backstop.”
McKenna specified that provinces will be able to choose whether to introduce a tax on greenhouse-gas emissions, like British Columbia and Alberta, or adopt a cap-and-trade system, which is the preferred option in Ontario and Quebec.
Majority of Canada’s provinces are already working on carbon reduction measures. However, some have expressed opposition to carbon pricing, the loudest of which has been Saskatchewan.
The news of a national carbon price system is very relevant to renewables for mines market, as any additional pressure on mining operations to lower emissions make alternative power sources more attractive financially and socially.
The topic of carbon pricing will be covered at the Energy and Mines World Congress in Toronto this November 21-22 during the panel discussion titled ‘Energy and Mines and Carbon Pricing.’
Also, Newmont Mining’s Chief Metallurgist, Frank Roberto, will give a presentation on ‘Introducing a Shadow Price on Carbon and the Impacts on Energy Decisions.’
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