Environment committee  This was in a report in December of last year, that the Canadian Chamber of Commerce indicated its support for carbon pricing as a transparent, market-driven approach to reducing greenhouse gas emissions.

Environment committee  Given that action is required, and policy is required, it's better to have a policy that costs less than a policy that costs more. Carbon pricing is going to be the lowest-cost, least expensive way to reduce greenhouse gas emissions.

Environment committee  As the other panellists have noted, many factors can affect greenhouse gas emissions. The key in isolating the impacts of any one factor is to use statistics to try to determine what is attributable to the carbon pricing and what is not. In other words, what would the carbon pric

Environment committee  I don't think it's a question of instrument; it's a question of stringency. You can have more aggressive regulations or more aggressive carbon pricing policies. To drive deeper emissions reductions, we need more stringent policy. That means either higher carbon prices still, over

Environment committee  I'll echo Andrew. Our models show growth remaining positive even under large carbon prices, albeit slightly less strong than it would be in the absence of any policy. Growth is very, very slightly, very modestly slower with carbon pricing.

Environment committee  It does. It addresses competitiveness concerns through the output-based carbon pricing system, and it addresses fairness for low-income households through those rebates to households.

Environment committee  I think it's a solid approach that minimizes costs and relies on carbon pricing. I think it could go further. I think the economists of the Ecofiscal Commission might argue for even more reliance on carbon pricing and even less reliance on other instruments. That being said, I t

Environment committee  Yes. I think you want to—

Environment committee  I think expectations of future carbon prices are exactly what businesses want. They want certainty to make those long-lasting investment choices and to know how they will pay off. I think there's also an expectation that carbon constraints elsewhere are only going to increase as

Environment committee  Sorry, clarify the question, please. I don't understand.

Environment committee  You're talking about transaction costs and the cost to government of operating that process.

Environment committee  I think they are quite small, given that the CRA already provides rebates and given that those rebates are equal across different households. There's no customization of those rebates. It's uniform.

Environment committee  I think we can go even further. If Canada is not taking action to reduce its greenhouse gas emissions, what reason do we have to expect that other countries would do the same? That is exactly the nature of the collective action problem that is climate change. Only by all taking a

Environment committee  I'll take a first shot at this. Lower carbon prices will drive lower emissions reductions. Higher carbon prices will drive higher emissions reductions. It isn't a question of yes or no, or whether emissions reductions are effective or ineffective. It's a question of degree and o

Environment committee  I'll chime in here too. One of the advantages of the pan-Canadian framework is the flexibility it gives to provinces to implement their own carbon pricing policy in different ways. We've seen different levels and different approaches to output-based carbon pricing and output-bas