Canadian carbon pricing projected to reduce GHG emissions by 12% annually by 2030, with a 0.9% GDP impact.
The Canadian federal government has released data suggesting that carbon pricing will reduce greenhouse gas emissions by over 12% annually by 2030, lowering the country's GDP by 0.9%. The data shows that Canada's emissions would be nearly 11% higher by 2030 without carbon pricing, equating to nearly 80 million tonnes of greenhouse gas emissions eliminated by carbon pricing. The data also indicates that carbon pricing is expected to result in a $7 billion reduction to GDP in 2023 and a $25 billion reduction in 2030.
June 13, 2024
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