Webinar 3: Carbon tax: developer and local government perspectives Description: A strengthened carbon tax must be a key component of an ambitious Climate Leadership Plan in B.C. Join representatives from the Pembina Institute, development community and local government to hear why this plan is crucial for progress from a variety of perspectives. Date: March 10, 12 p.m. to 1 p.m. http://www.pembina.org/blog/webinar-series-whats-needed-for-a-strong-bc-climate-leadership-plan

1. B.C.’s carbon tax:
developer and local
government perspectives
Jeff Fisher – Urban Development Institute
Matt Horne – Pembina Institute
Brendan McEwan – City of Richmond
Karen Tam Wu – Pembina Institute
We are very grateful for support from:

2. Overview
 Introduction
 Overview of CLT recommendations
 Local government ‘s approach to emissions
reduction - Brendan McEwan, City of
Richmond
 Financial incentives to curb emissions from
buildings – Jeff Fisher, UDI
 Q&A
2

3. Mandate
Provide recommendations that:
 Achieve BC’s climate targets
 Maintain a strong economy
 Mitigate impacts on vulnerable populations
3

4. Fiscal policy recommendations
4
• Increase the carbon tax by $10 / tonne / year
• Expand the carbon tax coverage
• Use incremental carbon tax revenues to:
• Reduce the PST
• Increase protection for low-income and northern/rural
households
• Establish targeted measures to protected emissions-
intensive, trade-exposed sectors
• Establish mechanisms that facilitate investments in
technology and innovation and provide local
governments with funding for projects

5. Fiscal policy recommendations
5
Government
commits to
2018 & 2021
carbon tax
next steps
New
schedule of
carbon tax
increases
starts.
Carbon tax
coverage
expands
Team’s recs
provided to
government
5-year review
in carbon tax
2015 2016 2018 2021 2023
New carbon tax revenues matched with expenditures
on tax cuts/credits, EITE measures, investments, etc.

6. Resources
 Business carbon tax letter
http://www.pembina.org/bc-carbon-tax
 Pembina’s submission
http://www.pembina.org/pub/bc-climate-leadership-
plan-submission-phase-2-consultation
 CLT recommendations summary
http://www.pembina.org/pub/bc-climate-leadership-
team-process-and-recommendations
6

7. Thank you
Jeff Fisher Matt Horne
email: jfisher@udi.org email: matth@pembina.org
Brendan McEwan Karen Tam
Wu
email: bmcewen@richmond.ca email: karentw@pembina.org

8. 8

9. Extra slides
9

10. Carbon tax 101
10

11. Carbon tax 101
11
0.95
1.00
1.05
1.10
2007-08 2008-09 2009-10 2010-11 2011-12
Change in GDP (1st phase of carbon tax)
BC
Rest of Canada
(Source: Statistics Canada, 2007-2012)

12. Carbon tax 101
12
0%
10%
20%
30%
40%
50%
60%
70%
Feb 2008 July 2008 May 2009 June 2010 June 2011 Nov 2011 Nov 2012 Oct 2013 Oct 2014
Public opinion: Support for B.C.’s carbon tax
(Source: Environics Institute, 2008-2014)

13. Carbon tax 101
13