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According to a 2018 report, British Columbia, which has had a carbon price since 2008, had the fastest-growing economy in Canada. [52] In its April 25, 2019 report, Canada's Parliamentary Budget Officer estimated that the federal government "will generate CA$2.63 billion in carbon pricing revenues in 2019-20."
The Greenhouse Gas Pollution Pricing Act [a] (French: Loi sur la tarification de la pollution causée par les gaz à effet de serre) is a Canadian federal law establishing a set of minimum national standards for carbon pricing in Canada to meet emission reduction targets under the Paris Agreement. [2]
As of 2022 Canada was the world's 11th highest emitter of carbon dioxide (CO2) [3] [4] and as of 2021 the 7th highest emitter of greenhouse gases. [5] Canada has a long history of producing industrial emissions going back to the late 19th century.
In practice, it has resulted in a fairly strong carbon price from 2005 to 2009, but that was later undermined by an oversupply and the Great Recession. Recent policy changes have led to a steep increase of the carbon price since 2018, exceeding 100€ ($118) per ton of CO 2 in February 2023. [8]
The following table lists the 1970, 1990, 2000, 2010, 2020, 2021, 2022, and 2023 annual GHG [n 1] emissions estimates (in kilotons of CO 2 equivalent per year) along with a list of calculated emissions per capita (in metric tons of CO 2 equivalent per year).
By 2000, the United States had established a US$8,000 lead over Canada. The situation deteriorated further after a 2014-15 shock in oil prices, with Canadian per-capita real GDP growing at just 0.4% annually, compared to the 1.4% average of surveyed advanced economies. [7]
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The following table lists the 1970, 1990, 2000, 2010, 2020, 2021, 2022 and 2023 annual per capita GHG [n 1] emissions estimates (in metric tons of CO 2 equivalent per year). The data include carbon dioxide (CO 2), methane (CH 4) and nitrous oxide (N 2 O) from all sources, including agriculture and land use change. They are measured in carbon ...