Trudeau commits to national carbon price to cut emissions

By Josh Wingrove, Bloomberg.

Prime Minister Justin Trudeau is pledging to set a national carbon price to cut emissions, a key message sent as Canada’s provincial premiers meet to discuss how to proceed.

Trudeau and the premiers fell short of a commitment to impose a price earlier this year, instead pledging to study a plan that could include “carbon pricing mechanisms,” and report back on an emissions reduction plan by October. A carbon price typically means either a tax or a cap-and-trade regime.

Some provinces oppose such a plan, with Saskatchewan threatening legal action. Trudeau and Environment Minister Catherine McKenna, however, have ratcheted up their pledges this month, suggesting the federal government will set a price if all provinces can’t agree on one.