“It’s always been hard to do this.
Not only will that encourage innovation, it will give that clear price signal to the private sector that making the right capital investments to transform to lower emissions makes sense.
Von der Leyen, the senior-most leader of the European Union, praised Canada’s leadership on the carbon tax file, saying it follows the EU’s emissions trading system, a cap-and-trade system that was first imposed on some industries on the continent in 2005.
“It’s been proven — it helped us decouple growth from greenhouse gas emissions. So you can prosper while cutting emissions,” she said, while touting the reductions seen across the power industry in Europe, where carbon emissions are down some 45 per cent since the trading system was first implemented.
“We believe that carbon tax is the best way to go.
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