Canada’s Alberta sees C$3 billion of new carbon tax revenue

They are pledging to make a change to alternative sources of energy, where two-thirds of the province’s power would eventually be provided by renewable energy sources such as wind power and natural gas.

In its report, the Climate Panel succinctly states the challenge: “we must demonstrate how an energy-producing jurisdiction can implement climate policy that reduces emissions, protects the competiveness of key industries and spurs innovation”.

Obama has cited Alberta’s “dirtier crude oil” in the decision to reject the proposed project.

Alberta’s new carbon plan will be showcased in Paris not only by the province’s premier, but also its environment minister.

They say it strikes the right balance between developing the resource while addressing global concerns about climate change.

The provincial government estimated that the plan, including a pledge to phase out pollution from coal-fired electricity generation by 2030 and limit emissions from the oil-sands industry, would generate $2.25 billion in annual revenue. “One that should provide greater predictablity for both the industry and the province on a go-forward basis”. “We are going to write a made-in-Alberta policy that works for our province and our industries, and keeps our capital here in Alberta”.

It was a sold out house at the Agrium Western Event Centre for a fundraising event featuring Alberta premier Rachel Notley.

On November 22, 2015, Alberta released its long-awaited Climate Leadership Plan (Climate Plan).

Tim McMillan, president of the Canadian Association of Petroleum Producers said “There are opportunities in there – as coal is phased out, natural gas has been identified as one of the major backfills”. We want to send a clear signal to Canadians and our partners around the world that Canada is back and ready to play our part…

Oil and gas producers in Alberta had expressed concerns about the rapid policy shift in recent weeks. “Used in power generation, it emits about half the carbon dioxide compared to coal and could virtually eliminate emissions of smog-causing pollutants”, McMillan said. The system will also replace the existing specified gas emitters regulations that seek intensity-based emissions reductions with an option for companies that exceed to pay into a technology fund. That levy was at $15 a tonne, and McInerney notes the new system will cover the “entire Alberta economy” rather than just the largest emitters.

While the plan has some significant shortcomings-and notably has been endorsed by the tar sands industry-campaigners say that by taking the lead on emissions policy, Notley is paving the way for newly elected Prime Minister Justin Trudeau to take the more aggressive stance needed at the upcoming United Nations COP21 summit in Paris. “This unity is a departure from the past”.

So Monday’s meeting is meant to show the global community that he’s at least taken the first steps towards delivering on that commitment and that Canada is now serious about combating climate change after a decade in which the country was widely condemned as an environmental laggard.