In addressing climate change, a solid consensus has emerged on the importance of placing a price on emitted carbon, whether through a tax or cap-and-trade system. Our work focuses on designing a carbon pricing policy and market models that are pragmatic and workable.
Sustainable Prosperity welcomes the opportunity to provide comment and analysis in support of the province of Ontario's climate change strategy discussion paper, based on the considerable expertise and capacity it has built up on the theme of a low-carbon economy.
Sustainable Prosperity welcomes the opportunity to comment on Ontario’s Greenhouse Gas (GHG) Emissions Reductions Program, and commends Ontario for its commitment to public engagement and consultation on an issue of critical importance to its economic and environmental prosperity.
This report aims to improve understanding of the political and economic factors that have led to the adoption of a linked cap-and-trade system in California and Québec. California has committed to reducing its emissions to 1990 levels by 2020 while Québec has committed to reducing emissions 20% below 1990 levels in the same time period. In their electoral programme the Parti québécois, which has formed a minority government in Québec since the 2012 provincial election, expressed a commitment to a 25% reduction.
January 1st, 2014 marked not only the beginning of a new year, but also the beginning of a new era of carbon policy in North America. For the first time, Quebec and California committed to using market-based instruments to reduce GHG emissions by officially linking their cap-and-trade systems.
This Issue Summary examines the mutual economic benefits that can be gained from the adoption of linked systems between distinct jurisdictions.
While it is now commonly accepted that economic activity and the state of our environment are linked, many economic measures still fail to incorporate the environment – both the things we draw from it and the pollution we release into it. By developing and calculating measures of productivity that include natural capital, Canada may be able to better understand these linkages. This, in turn, may lead to the identification of strategies that can help Canada become more efficient and innovative in the use and protection of natural capital, and thus more productive and more prosperous.
Using the forestry sector as a case study, this project aims to construct an environmentally adjusted measure of multifactor productivity. In doing so, we aim to add another layer of understanding to the environmental and economic performance of this sector. The proposed measure will have relevance to the Canadian economy as a whole.