This webinar will be presented by Alicia Macdonald and Douglas Ruth.
Governments across Canada have committed to moving towards a low carbon future. Despite the recent decision by the United States to withdraw from the Paris Accord, Canada remains keen to significantly reduce its GHG emissions. Achieving deep emission reductions will require a multifaceted approach and the Canadian plan includes pricing carbon and eliminating coal-fired electricity.
To get a sense of the economic impact of these types of policies, The Conference Board of Canada, building on research from the Canadian Academy of Engineering, analyzed the economic impact of taxing carbon and moving away from fossil fuels for electricity generation. In the analysis, the economic impacts of a carbon tax starting at $10 per tonne of carbon dioxide equivalent is discussed as well as the impact of shifting our electricity generation mix.
While pricing carbon and shifting the electricity generation mix towards renewables are important components of the emission reductions strategy, a broader approach is necessary to achieve our targets. The Trottier Energy Futures Project (TEFP) examined several possible pathways for Canada to make deep emission reductions. The work done in the TEFP has shown us that it is indeed technically feasible to transition Canada to a low carbon society but doing so will require significant spending commitments. In our study, we aggregated the investment spending required under some of the TEFP scenarios and assessed the economic impact of that investment.
Join Alicia Macdonald and Douglas Ruth for a detailed description of the methodology and a presentation of the results of this analysis.