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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.
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The Climate Institute of Canada notes that the "minimal" benefits of the MOU will not offset the increase in oil production.
·Montreal, Canada
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The "minimal" benefits of the Memorandum of Understanding are not sufficient to justify the increase in oil production.
·Montreal, Canada
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The Toronto Star+3 Reposted by 3 other sources
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
·Toronto, Canada
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Winnipeg Free Press+21 Reposted by 21 other sources
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.
·Winnipeg, Canada
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Coverage Details
Total News Sources31
Leaning Left21Leaning Right0Center5Last UpdatedBias Distribution81% Left
Bias Distribution
- 81% of the sources lean Left
81% Left
L 81%
C 19%
Factuality
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