| Tax and Trade - Carbon no Longer 'Free' | 27 February 08 |
 Green taxes and tax credits will fight climate change, using market forces to encourage Canadian industry to adjust and adopt technology to reduce emissions. The Conference Board of Canada, an independent economic think-tank, released the report Use Green Taxes and Market Instruments to reduce Greenhouse Gas Emissions. The report indicated a national carbon tax, combined with a cap and trade system, will establish a price on pollution and reduce GHG emissions. "Fundamentally, as economists, you have to believe that one of the great challenges of (addressing) climate change is that carbon is still treated like it's free," said Glen Hodgson, senior vice-president and senior economist at the Conference Board. The Canadian government has quietly released a conflicting report, Canada's Fossil Energy Future: The Way Forward on Carbon Capture and Storage. The report calls for a tax dollar investment of $2 billion in the oil and gas industry towards underground capture and storage technology for greenhouse gas pollution. "The cost of cleaning up an industry should come out of the profits of the industry not the taxpayers' pockets," said John Bennett, executive director of climateforchange.ca. View January 31, 2008 Canwest News article View January 31, 2008 National Post article View January 2008 Conference Board of Canada report, Use Green Taxes and Market Instruments to reduce Greenhouse Gas Emissions View Natural Resources Canada report, Canada's Fossil Energy Future: The Way Forward on Carbon Capture and Storage Sources: National Post, Canwest News |
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