QUÉBEC CITY, July 15, 2024 /CNW/ - A price on carbon pollution is widely recognized as the most efficient means to reduce the greenhouse gas emissions that are contributing to the more intense wildfires, droughts, and floods caused by climate change.

Canada believes that it shouldn't be free to pollute. Pollution pricing also becomes most effective when more countries and nations adopt it—broader coverage means more opportunities to find and invest in clean solutions.

As co-chair with Panama of the Carbon Pricing in the Americas initiative, Quebec has built strong partnerships across the region, promoting collaboration on best practices for carbon pricing. This effort exemplifies how carbon pricing can effectively reduce emissions while driving economic growth. In support of this leadership, the federal government also announced $750,000 for the Carbon Pricing in the Americas initiative. This funding will support enhancing technical capacity in expertise with partners that are members of the Carbon Pricing in the Americas initiative.

Canada remains a leader in promoting the implementation of carbon pricing at home and abroad. The Carbon Pricing in the Americas initiative was launched by Canada and Mexico in 2018 and has promoted the adoption and implementation of carbon pricing throughout the Americas. Canada also launched the Global Carbon Pricing Challenge to expand the use of carbon pricing globally. The Global Carbon Pricing Challenge is complementary to the Carbon Pricing in the Americas initiative in that it also aims to highlight experiences with carbon pricing and rallies global leaders to promote the value of carbon pricing. This challenge, as set by Prime Minister Justin Trudeau, is to achieve the objective of 60 percent of global emissions covered by carbon pricing by 2030 and a commitment to support developing countries.

Canada and Quebec are not alone in putting a price on carbon pollution—according to the World Bank, there are currently 75 carbon pricing instruments in operation worldwide. Canada's actions are aligned with some of the world's largest economies, which have also adopted carbon pricing as an effective, low-cost tool to lower emissions while driving economic growth.

Canada is glad to be working with Quebec in accelerating action on carbon pricing and encourages more jurisdictions to step up and join both Carbon Pricing in the Americas and the Global Carbon Pricing Challenge to promote carbon pricing as a low-cost, effective way of reducing emissions and driving innovation.

Quotes

"We know that some of the biggest opportunities of this century will be in clean energy and low-carbon technologies. Quebec is showing the world that putting a price on carbon pollution is the simplest, most cost-effective way to fight climate change and create good jobs for Canadians in the low-carbon economy."

The Honourable Steven Guilbeault, Minister of Environment and Climate Change

"Quebec's pioneering efforts in carbon pricing have set a powerful example for the rest of Canada and the world. Their commitment to innovative climate solutions demonstrates that economic growth and environmental responsibility can go hand in hand."

The Honourable Jean-Yves Duclos, Minister of Public Services and Procurement

"Making polluters pay for their pollution is common sense. Pleased to see the federal and provincial governments step up as leaders on the world stage to support other jurisdictions lower their emissions and grow sustainable economies."

Joël Lightbound, Member of Parliament for Louis-Hébert, Quebec

"Québec has acquired expertise in carbon pricing through our linked market with California. We welcome the announcement of $750,000 CAD in funding over three years to support the Carbon Pricing in the Americas initiative and continue the work to strengthen and develop carbon pricing mechanisms throughout the Americas. This advancement is essential for our collective efforts in fighting climate change, and we are eager to see the tangible benefits."

Benoit Charette, Minister of the Environment, the Fight Against Climate Change, Wildlife and Parks, and Co-Chair of the Carbon Pricing in the Americas

"We are pleased to hear about Canada's federal government's commitment of $750,000 toward the Carbon Pricing in the Americas initiative over the next three years. This vital funding will enhance efforts to expand carbon pricing mechanisms across the Americas and facilitate collaboration among participating countries, ensuring more effective implementation of carbon pricing policies and contribute to building capacity in nations that are newer to carbon pricing. By strengthening the resources dedicated to this initiative, we will accelerate our progress toward reducing greenhouse gas emissions, promote sustainable economic growth, and achieve our international climate commitments. We are enthusiastic to witness the long-term environmental and economic benefits that will arise from this investment."

Javier Martínez, Head of Mitigation of the Climate Change Directorate of the Ministry of Environment of Panama and Co-Chair of the Carbon Pricing in the Americas

Quick facts

• The Carbon Pricing in the Americas initiative is an established regional network of national and subnational governments working together to share experiences and best practices in the Americas on carbon pricing. Co-chaired by Quebec and Panama, the Carbon Pricing in the Americas meets regularly through technical dialogues and workshops. These initiatives emphasize supporting developing countries, recognizing their unique challenges in addressing climate change and ensuring that the benefits of global collaboration extend across diverse economies.
• The current national members of the Carbon Pricing in the Americas initiative include Canada, Panama, Paraguay, Chile, Mexico, and the Dominican Republic. The subnational members include Pernambuco, Rio de Janeiro State, and the Federal District of Brazil (Brazil); Querétaro, Sonora, and Yucatán (Mexico); California (United States); and Quebec, British Columbia, and Nova Scotia. Colombia is an observer.
• Since 2017, momentum for carbon pricing in the Americas has grown significantly, with countries such as Canada, Mexico, Colombia, and Chile implementing or expanding carbon prices and cap-and-trade systems.
• Launched by Canada at the United Nations Climate Change Conference (COP26), the Global Carbon Pricing Challenge provides an opportunity for jurisdictions to build on their strong foundations of carbon pricing leadership with like-minded partners. With equity and fairness front and centre, the Challenge creates a forum for dialogue and coordination to better understand policy design choices and to support other countries in adopting carbon pricing.
• Canada is recognized internationally as a climate leader, in large part due to robust domestic carbon pollution pricing. Canada's approach gives provinces and territories the flexibility to implement their own carbon pricing systems that best meet their needs, while aligning with minimum national standards.

Associated links

• The Global Carbon Pricing Challenge
• Carbon Pricing in the Americas
• How pollution pricing reduces emissions

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SOURCE Public Services and Procurement Canada