The Supreme Court of Canada ruled that Ottawa’s price on carbon must be upheld by the provinces, saying the impact of emissions extends beyond their borders. The decision forces provinces that have resisted such policies to meet the minimum $30 per tonne standard outlined by the Trudeau Liberals.
Conservative Leader Erin O’Toole insists a federal carbon price is not the way to tackle the growing threat of climate change across the country. He said the policy will have an outsized financial impact on lower-income Canadians.
Tom Rand, the managing partner at ArcTern Ventures, disagrees.
“I think it's really important that political actors on the right begin to accept market-based principles, primarily a price on carbon, which right now is revenue neutral,” he told Yahoo Finance Canada senior reporter Jeff Lagerquist.
O’Toole is expected to release a climate plan before Canada’s next federal election.
“I would hope in good faith we fight elections over the substance of this debate, which is not about pointing fingers and saying the poor people are going to pay more,” he said. “O’Toole is lying when he says that. He knows it's not true.”
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.