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Environment committee It's not yet in force, but it's coming into force. The results of the CBAM in Europe would not be to ban Canadian cement, but to impose a surcharge on Canadian cement.
March 19th, 2024Committee meeting
John Moffet
Environment committee I'll leave that to you to decide, but—
March 19th, 2024Committee meeting
John Moffet
Environment committee —I can tell you that as a result of having a carbon price, we have had successful negotiations with Europe to recognize the price that Canadian producers of cement, steel and aluminum pay. Therefore, although final decisions haven't been made, all signals are that they won't be s
March 19th, 2024Committee meeting
John Moffet
Environment committee Yes, it has, repeatedly.
March 19th, 2024Committee meeting
John Moffet
Environment committee I don't think our model draws a straight line between global temperatures and our GDP. It is an economy-wide, computable general equilibrium model that can estimate the GDP impacts of various issues, including climate change or any new measure, such as the carbon price, regulat
March 19th, 2024Committee meeting
John Moffet
Environment committee For every measure we've introduced, we've had to provide Canadians with modelling about the estimated impacts, including, in particular, two impacts. One of these is this: Will the measure contribute to the reduction of emissions? The answer, as we've stated repeatedly, is th
March 19th, 2024Committee meeting
John Moffet
March 19th, 2024Committee meeting
John Moffet
Environment committee Yes. We shared this analysis globally. There is a fairly well-established methodology for estimating the incremental impact of a tonne of greenhouse gas emissions—regardless of where it comes from—on the overall climate and progression of climate change, in terms of whether it wi
March 19th, 2024Committee meeting
John Moffet
Environment committee No, and that's not what I said we could do. What we have done is provide information—we'll table it with this committee—about the expected impact of our collective set of measures on Canadian emissions and the expected effect of our collective set of measures on GDP in Canada. T
March 19th, 2024Committee meeting
John Moffet
Environment committee When we published the ban on single-use plastics, we also published, as we do with every regulation, a regulatory impact assessment statement, which included a review of the economic costs of replacing single-use plastics, including plastic straws. Potentially regrettable substi
March 19th, 2024Committee meeting
John Moffet
Environment committee I will start by repeating the analysis that we've shared publicly. We estimate that of the total emissions reductions that will be achieved economy-wide by 2030, approximately one-third will be attributable to the carbon price. If we were to remove the carbon price from the eco
March 19th, 2024Committee meeting
John Moffet
Environment committee Could I just add that this is the methodological disagreement that we have with the Parliamentary Budget Officer? The Parliamentary Budget Officer's estimate of the GDP impacts did not compare the GDP impacts of carbon pricing to an economy facing climate change without the ca
March 19th, 2024Committee meeting
John Moffet
March 19th, 2024Committee meeting
John Moffet
Environment committee Yes. We have plenty of analysis on trade impacts, competitiveness impacts, affordability impacts.
March 19th, 2024Committee meeting
John Moffet
March 19th, 2024Committee meeting
John Moffet