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Nancy olewiler

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BC's Carbon Policy: At a Crossroads?

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Nancy olewiler

  1. 1. BC’S CARBON POLICY: AT A CROSSROAD? Nancy Olewiler School of Public Policy, Simon Fraser University North American Climate Policy Forum University of Ottawa 22-23 June 2016 1
  2. 2. BC Carbon Policy 1.0 • Centrepiece = carbon tax set initially at $10/tonne CO2e effective July 1, 2008, rising $5/tonne/year to 2012 • Tax frozen 2012 to 2017 • Covers c. 70% GHGs in BC • Approx $1.2 billion annual revenue is returned in the form of CIT & PIT cuts, payments to low income/rural households, grab bag of tax credits (revenue negative) • Complementary policy = carbon neutral public sector, low carbon fuel standard, no coal generation, etc. • Nic Rivers will present the impacts of the tax 2
  3. 3. BC’s Challenge: Rising Emissions Source: BC Climate Leadership Team (2015) Recommendations to Government. 3
  4. 4. Climate Leadership Team: Climate Policy 2.0? • Created by Premier Clark June 2015 with 17 members: First Nation chiefs, industry, ENGOs, academics, mayors, provincial government • Report with 32 recommendations to Cabinet in November 2015 – a multi-sectoral approach setting a new emission target of 40% reduction below 2007 by 2030 • Core recommendation: 2017 start raising the carbon tax by $10/tonne/year • Complementary policies: • Reduce methane from NG by 40% over next 5 years – voluntary actions to regs to carbon tax • Reduce emissions from buildings by 50% by 2030 • Set a 2030 target for low carbon fuel standard and a new ZEV standard, and more….see: Climate Leadership Team, Recommendations to Government. 4
  5. 5. CLT Modeled Policy Impact 5
  6. 6. Why the Crossroad? • Provincial election in May 2017 – no plan announced yet by BC Govt. • Concerns about impact on: • Economic growth (model: average annual growth = 2.07% with policy, 2.11% without) • Affordability for households (HH) (CLT had PST cut by 1% + increase transfers) • Emission-intensive-trade-exposed sectors (EITE) & leakage (CLT allocated revenues) • Challenge: to address each of these with strong analysis and policy options especially EITE, HH, policy coordination, political concerns • Rising to the challenge • Canada’s Ecofiscal Commission’s work (www.ecofiscal.ca), SP, this conference, ongoing academic and modeling work • Provincial policy development underway • EITE ad hoc working group in BC • Fed/prov working groups on climate policy • US policy (US election ?) 6

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