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Canada to Set First Natonal Carbon Price at C$10 Per Ton

Dec 12, 2016 05:41 AM EST
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Canada is about to make a carbon revolution. Eight of its 10 provinces have agreed to introduce a national carbon price, the first of its kind in the country.

Prime Minister Justin Trudeau said this move will help the country meet its climate change obligation.

According to The Guardian, the agreement was put in place on Friday after long talks. Saskatchewan did not sign, reasoning the "cost would be too great" for the energy-producing province. Meanwhile, Manitoba declined on the notion, but officials said it may be open to thinking to sign.

However, Trudeau promises to impose a carbon price on any province that refuses to sign the agreement which puts carbon pollution at C$10 a ton in 2018. It will rise C$10 per annum until it reaches C$50 in 2022. 

Provinces can do this by either implementing a carbon tax or a cap-and-trade market.

Regardless, according to The Guardian, this may be related to a move phasing out coal-fired electricity by 2030.

Environment minister Kathleen McKenna said this will significantly reduce their greenhouse emissions and improve the health of citizens. The phasing out will also involve replacing it with cleaner technology.

This involves alternative forms of electricity such as solar and wind power that have been growing steadily popular through the last few months. The move of other countries to lean towards cutting coal-based energy may also be a motivating factor. 

According to Reuters, Trudeau can be remembered to be politically aligned with U.S. President Barack Obama who has pushed to cut emissions on greenhouse gas. Sadly, such appears to be not the case with President-elect Donald Trump.

Regardless, Saskatchewan minister Brad Wall said the carbon price may make Canadian firms less competitive at a time when Trump looked likely to adopt policies that can cut energy costs.

Four of the country's provinces still use coal-based electricity. However, Alberta has been working toward phasing out coal-fired energy by 2030.

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