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B.C.’s carbon tax: developer and local government perspectivesJeff Fisher – Urban Development Institute
Matt Horne – Pembina Institute
Brendan McEwan – City of Richmond
Karen Tam Wu – Pembina Institute
We are very grateful for support from:
Overview Introduction
Overview of CLT recommendations
Local government ‘s approach to emissions reduction - Brendan McEwan, City of Richmond
Financial incentives to curb emissions from buildings – Jeff Fisher, UDI
Q&A2
MandateProvide recommendations that:
Achieve BC’s climate targets
Maintain a strong economy
Mitigate impacts on vulnerable populations
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Fiscal policy recommendations
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• Increase the carbon tax by $10 / tonne / year • Expand the carbon tax coverage• Use incremental carbon tax revenues to:
• Reduce the PST • Increase protection for low-income and northern/rural
households• Establish targeted measures to protected emissions-
intensive, trade-exposed sectors• Establish mechanisms that facilitate investments in
technology and innovation and provide local governments with funding for projects
Fiscal policy recommendations
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Government commits to
2018 & 2021 carbon tax next steps
New schedule of carbon tax increases
starts.
Carbon tax coverage expands
Team’s recs provided to government
5-year review in carbon tax
2015 2016 2018 2021 2023
New carbon tax revenues matched with expenditures on tax cuts/credits, EITE measures, investments, etc.
Resources Business carbon tax letter
http://www.pembina.org/bc-carbon-tax
Pembina’s submission http://www.pembina.org/pub/bc-climate-leadership-plan-submission-phase-2-consultation
CLT recommendations summary http://www.pembina.org/pub/bc-climate-leadership-team-process-and-recommendations
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Thank you
Jeff Fisher Matt Horneemail: [email protected] email: [email protected]
Brendan McEwan Karen Tam Wuemail: [email protected] email: [email protected]
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Extra slides
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Carbon tax 101
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Carbon tax 101
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2007-08 2008-09 2009-10 2010-11 2011-120.95
1.00
1.05
1.10 Change in GDP (1st phase of carbon tax)
BC
Rest of Canada
(Source: Statistics Canada, 2007-2012)
Carbon tax 101
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Feb 2008 July 2008 May 2009 June 2010 June 2011 Nov 2011 Nov 2012 Oct 2013 Oct 20140%
10%
20%
30%
40%
50%
60%
70%
Public opinion: Support for B.C.’s carbon tax
(Source: Environics Institute, 2008-2014)
Carbon tax 101
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