Mr. Speaker, Natural Resources Canada is not the federal lead on carbon pricing, but works in close collaboration with federal partners and provincial colleagues to assess the impacts of carbon pricing and to explore measures to minimize the potential impacts on Canada’s trade-exposed sectors.
Natural Resources Canada, with its federal and provincial partners on the working group on carbon pricing mechanisms, reviewed the potential impacts of various carbon pricing scenarios. These impacts will be dependent on the design of each provincial system and how that province chooses to reinvest any revenue that it generates. Carbon pricing is widely accepted as the most efficient measure to achieve emission reductions. Further analysis on the economic impacts of carbon pricing will become available as each province and territory clarifies the precise design of its carbon pricing systems.