An industrial carbon price basically forces companies to internalize the cost of their pollution. It's a polluter pay mechanism.
Right now, these sectors, in particular the largest polluting sectors of the Canadian economy, namely the oil and gas sector, which accounts for over a third of our national emissions, often are not fully paying the social cost of carbon that is imposed on Canadians and on the world. Forcing these companies to price that out in their investments will mean that they will prioritize technologies that are less polluting over time. If we look at the bigger macro picture, the Canadian economy and specific sectors of the economy will grow where there are less emissions and where there is compatibility with not only that competitive outlook we were describing earlier, but also in terms of a healthy environment, which is better for people and the planet.