HomeCarbon NewsFederal Government Rejects Saskatchewan's Carbon Pricing Plan

Federal Government Rejects Saskatchewan’s Carbon Pricing Plan

The federal government has rejected a request from Saskatchewan to use a provincial carbon pricing plan.

Saskatchewan premier Scott Moe has opposed the federal carbon price, feeling it puts a strain on an uncompetitive economy in Saskatchewan. In a statement released by the premier, Moe states “The rejection of Saskatchewan’s submission can only be viewed as an arbitrary and political decision from the federal government.”

Moe also indicated that the federal government will not accept any further submissions of a carbon pricing plan until 2023.

The Saskatchewan rejection contrasts with the carbon pricing plan approved in New Brunswick, which provides reduced fuel prices in exchange for a carbon tax.

The move shows the Canadian governments commitment to uniting carbon taxes across the whole country, rather than letting provinces decide how they should implement carbon measures. The federal government mentioned a benchmark carbon price is in the works and could be implemented as early as January 2023.

Minister of Environment and Climate Change Jonathan Wilkinson did mention previously that the new benchmark would eliminate any rebates or cuts offsetting the carbon tax.

Canada aims to be carbon neutral by 2050, they have also been tasked by the UN to reduce emissions from 40-45% by 2030. A change in carbon pricing methods could eliminate any discrepancies and help Canada reach their Net-Zero goals.

 

 

Most Popular
LATEST CARBON NEWS

Copper Prices Slump Below $9,000: What Does It Mean for Global Growth?

Copper prices fell below $9,000 a ton for the first time since early April due to a global stock market selloff and rising pessimism...

How India’s Budget 2024 Sets a Global Standard for its Critical Minerals

In a groundbreaking move, India’s Finance Minister Nirmala Sitharaman has given utmost significance to critical minerals in the Union Budget for 2024-25. The Critical...

Paris Olympics: Are they Using Carbon Credits to Slash their Carbon Footprint?

The 2024 Paris Olympics, running from July 26 to August 11, aims to cut its carbon footprint by 50% compared to past games. To...

Why Weak Lithium Prices Will Persist in Early Q3 2024

Asian lithium prices are expected to stay weak in the first half of Q3 2024 due to oversupply and new import tariffs on Chinese...
CARBON INVESTOR EDUCATION

The Ultimate Guide to Understanding Carbon Credits

Everything you need to know about carbon credits, voluntary and compulsory carbon markets, and carbon investment...

Top 4 Carbon Stocks To Watch In 2024

Carbon stocks, credits and capture technology are getting a lot of interest from investors. Companies will attract even more capital in 2023.

What Is COP28? Key Issues to Watch Out at 2023 Climate Summit

After a record-breaking year of devastating effects of climate change, from record wildfires in Greece and Canada to floods in Libya, the United Nations...

Climate Disclosure: New Corporate Standards for a Net Zero World

As part of the world’s continued efforts to combat climate change and transition towards net zero, one important piece of the puzzle is new...