The green recovery of the measures implemented so far has hardly been sustained. Much of Canada`s $200 billion CoVID 19 stimulus package focuses on helping affected individuals and businesses deal with the immediate health and economic effects of the pandemic. The package provided CAD 2.5 billion to support the oil and gas sector to clean up orphaned and inactive wells and reduce volatile methane emissions. Depending on the structure of this support, it could undermine the polluter pays principle. 330 million CAD have also been allocated to the country`s airports. It is positive that large employers seeking assistance must publish annual reports on the disclosure of climate-related financial information and explain how they contribute to the implementation of Canadian NDCs and other Paris commitments. The government has also released some resources to redistribute food and avoid food waste. Annamie Paul, leader of the Green Party, said the bill was “smoke and mirror” and said that without penalties, the government would be able to ignore future goals. If other countries expose their industries to the total impact of carbon prices to meet their Paris targets, the need to protect Canadian sectors would be “unmasked,” the report says. In our Conservative scenario, the government would rely only on the price of carbon to bridge the “Paris divide.” For Canada to meet its Paris commitment, the federal carbon price would have to rise from $49.15 per tonne in 2025 to $116.02 per tonne by 2030 under the “Promised Policy” scenario.
In fact, Canadian emissions have almost returned to 2005 levels by 2018, despite various climate change policies adopted by the federal government and the provinces. Canada`s emissions trends over the past 15 years illustrate the difficulty of sustainably reducing emissions and presuppose the significant impact on our energy-based economy. This is an important issue that should be highlighted to Canadians. The impact of achieving the Paris goal on the Canadian economy is considerable. As noted above, Canada, based on all the measures currently implemented and planned and announced publicly, as well as contributions to land use, land use change and forestry (UTCATF) and the Western Climate Initiative (WCI) in the case of the “promised policy,” 112 million . M to reach the Paris target in 2030. The United States formally left the Paris climate agreement on November 4, nearly three years after President Donald Trump announced his withdrawal from the international agreement. President-elect Joe Biden has promised to return to office the day he takes office.
In addition, the federal government is committed to developing a plan to get Canada on track to achieve a successful net zero-emissions future by 2050, including setting legally binding milestones for reducing 5-year emissions on the basis of the advisory case and consultations with Canadians and work to position Canada as a world leader in clean technology.