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The Canadian province of Quebec became the first in Canada to introduce a carbon tax. [1] [2] The tax was to be imposed on energy producers starting October 1, 2007, with revenue collected used for energy-efficiency programs including public transit. The tax rate for gasoline in Canadian currency was 0.8 cents per litre, or about $3.50 per ...
In June 2007, Quebec implemented the first carbon tax in Canada which was expected to generate $2 million annually. [ 12 ] On December 11, 2008, ExxonMobil CEO Rex Tillerson said that a carbon tax is preferable to a cap-and-trade program which "inevitably introduces unnecessary cost and complexity".
Carbon pricing, climate change Status: Current legislation The Greenhouse Gas Pollution Pricing Act [ a ] ( French : Loi sur la tarification de la pollution causée par les gaz à effet de serre ) is a Canadian federal law establishing a set of minimum national standards for carbon pricing in Canada to meet emission reduction targets under the ...
Canada is aiming to cut emissions 40-45% below 2005 levels by 2030 and a steadily rising carbon pri Trudeau government survives no confidence vote over Canada carbon tax rise Skip to main content
The Pan-Canadian Framework on Clean Growth and Climate Change (PCFCGCC or PCF; French: Cadre pancanadien sur la croissance propre et les changements climatiques, CPCPCC or CPC), Canada's national climate strategy, was released in August 2017 by the Government of Canada. [1]
BC's revenue neutral carbon tax is the first of its kind in North America. It was introduced at $10/tonne of CO 2 eq in 2008 and has risen by $5/tonne annual increases until it reached $30/tonne in 2012. In 2021, the carbon tax increased from $40/tonne to $45/tonne, and is scheduled to reach $50/tonne in 2022. [102]
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A carbon tax is a tax levied on the carbon emissions from producing goods and services. Carbon taxes are intended to make visible the hidden social costs of carbon emissions . They are designed to reduce greenhouse gas emissions by essentially increasing the price of fossil fuels .