Business and environmental groups are pushing Prime Minister Justin Trudeau’s government to quickly enact a program to guarantee carbon pricing revenue, or else lose out on the investments needed to reach Canada’s climate goals.
In a letter to Finance Minister Chrystia Freeland, they asked the government to open up access to the program — known as “contracts for difference” — as widely as possible, instead of doing individual deals with companies.
The letter is another sign of the pressure on the Canadian government to keep up with the U.S., its largest trading partner, which is providing lucrative tax credits for green manufacturing through the Inflation Reduction Act. The signatories range from the cement industry to fuel producers to environmental groups such as the Pembina Institute.Given how long it takes to build these projects, the government can’t afford to drag its feet on getting the program in place, Rainville said.
“Carbon price uncertainty is a significant barrier to the deployment of private capital,” Hooper said by email. “The federal government is best positioned to underwrite the federal policy risk associated with carbon price.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Prime Minister Justin Trudeau assumes a new role — single dad, just like his own fatherThe fallout of the separation might prove more costly if the private struggles of the marriage become public.
Read more »
‘So glad I’m not Canadian,’ Piers Morgan mocks Prime Minister Justin Trudeau for wearing pink to see ‘Barbie’ movie with his sonEnglish broadcaster Piers Morgan is feeling the wrath of Canadians after he mocked Prime Minister Justin Trudeau for dressing in pink to watch the 'Barbie' movie with his son.
Read more »
Unraveling the link between Justin Sun, Huobi & USDTJustin Sun gets accused of malpractice by twitter user. Speculation around Huobi's insolvency surfaces, as negative impact on USDT becomes possible.
Read more »
Lucas Glover wins Wyndham Championship, Justin Thomas’ season ends by inchesLucas Glover makes FedEx Cup playoffs with win, while Justin Thomas falls just short of PGA postseason
Read more »
Trudeau wedding flashback: Justin and Sophie tie the knot in opulenceThese nuptials were notable for their non\u002Dover\u002Dthe\u002Dtopness, and a guest list not made up overwhelmingly of back\u002Dscratching political hacks or two\u002Dbit celebrities.
Read more »
WARMINGTON: Justin Trudeau put out the bait and some haters ended up on the hookThe prime minister posted a photo of himself and his eldest son wearing pink at the Barbie movie.
Read more »