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Opinion: Canadian companies' poor climate-risk disclosure threatens to drive investors away theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Opinion: Carbon border taxes will test WTO's inadequate provisions theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Image source: Getty Images The federal government’s recent announcement that carbon tax will increase by 566% over ten years could impact Canadian businesses, industries, and consumers. The Trudeau administration plans to raise the existing carbon tax ($30/tonne) starting in 2022 until it reaches $170/tonne in 2030 to reach the Paris target. Oil sands companies like Cenovus Energy(TSX:CVE)(NYSE:CVE) face competitive risks in the international markets if the plan becomes law. Similarly, both companies might not be able to pass on higher carbon tax-costs to consumers. Costs such as home heating oil, natural gas and propane might rise. Greenhouse gas emissions targets ....
Trudeau said, “As we continue to address the impacts of COVID-19 and ensure our strong economic recovery, we must also continue to fight climate change for the good of Canadians, our economy, and our planet. Canadians don’t have to choose between clean air and good jobs. This strengthened climate plan will help us build a healthier, fairer, and more resilient future that we can be proud to pass on to our children and grandchildren.” The plan repeatedly refers to “carbon pollution.” The carbon tax started in 2019 at $20 per tonne, and was initially meant to rise $10 per tonne each year to 2022, when it would then be $50 per tonne. The new announcement will mean an increase of $15 per tonne for the eight following years, such that by 2030, the tax will be $170 per tonne. The federal government’s backgrounder noted this will be done “while returning the proceeds back to households such that the majority receive more money back than they pay in provinces where ....
Canada releases national Small Modular Reactor action plan Canada Minister of Natural Resources Seamus O’Regan, released a national SMR Action Plan, which responds to the 53 recommendations identified in Canada’s SMR Roadmap that was launched in November 2018. Canada’s SMR Action Plan seeks to advance the safe and responsible development and deployment of SMRs through a pan-Canadian approach in partnership with provincial and territorial governments, Indigenous peoples, organized labour, utilities, industry, innovators, academia and civil society. Each of these key enablers has contributed a chapter to the Action Plan, describing a concrete set of actions they are taking to seize the SMR opportunity for Canada. Collectively, these chapters demonstrate the breadth of engagement on SMRs across the country and outline the depth of progress and ongoing efforts. ....