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[53]: 1 According to the report, carbon pricing revenues will increase by an estimated CA$6.20 billion by 2023–24— CA$5.77 billion from the fuel charge and the rest from the OBPS, [53]: 1 a "trading system for large industry, known as the output-based pricing system (OBPS)". [53]: 16
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]
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The Alberta government has opted to implement a carbon levy and rebates policy to combat climate change. The policy took effect January 1, 2017 and increases in 2018. The prices at which the Alberta government has priced carbon is $20 per tonne in 2017 and then $30/ per tonne after the increase takes effect in 2018. [15]
In 2019, Canadian factories produced 1.4 million new trucks, more than triple the Canadian car production. [19] The Canadian domestic aviation industry, represented largely by the country's two main airlines (Air Canada and Westjet), produced 7.1 Mt CO 2 eq in 2017 and account for 1% of Canada's total greenhouse gas emission. [16]
The Pan-Canadian Framework on Clean Growth and Climate Change (PCFCGCC or PCF; French: Cadre pancanadien sur la croissance propre et les changements climatiques, CPCPCC or CPC), Canada's national climate strategy, was released in August 2017 by the Government of Canada. [1]
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Here are selected carbon tax rates by fuel: [17] In April 2019, the carbon tax increased to $40 /t CO 2 e, which is translated below into different fuel types. The carbon tax increased by units of $5/t until 2022, when the annual increase was raised to $15/t. As of April 2024, the carbon tax is $80/t. [18]