One point was raised earlier about the importance of maintaining policy certainty. They also talked about how important this has been in Norway to attract investment.
Our recommendations are as follows.
We have to make sure that the minimum price is high and that it gradually increases.
We also need to determine a credible trajectory beyond 2030. Right now, we know that in 2030, it should be $170 per tonne. What's going to happen between now and 2050? It's important to have certainty on that.
We also need to restore a level playing field across jurisdictions. The federal government must implement the federal backstop in provincial jurisdictions. Right now, it's not doing that.
We need to ensure that the effective price signal is not undermined by loopholes that permit offsets in emissions reduction accounts.
Finally, improving the transparency and durability of the carbon price signal is key.