TransCanada CEO Says World Needs ‘Broad-Based’ Carbon Price

TransCanada Corp. Chief Executive Officer Russ Girling joined a growing list of energy executives calling for a price on carbon to be applied to consumers of fossil fuels.

“You have to put a price on carbon,” Girling said Tuesday at a conference in Montreal. “Until we set a price signal for folks, they’re not going to change their behavior.”

Girling’s comments follow similar statements of support for carbon pricing by Europe’s largest oil producers last month, as well as Canadian oil-sands producer Suncor Energy Inc. CEO Steve Williams. Leaders from G7 nations on Monday called for ridding their economies of net carbon emissions by the end of the century, and countries from around the world are preparing for United Nations Climate talks at the end of the year in Paris.

In Alberta, home to Canada’s oil sands, the newly elected left-of-center government under Premier Rachel Notley has promised to update the province’s levy of C$15 ($12) a ton for large industrial emitters by the end of the month.

TransCanada’s Girling said putting a value on carbon allows consumers to reduce consumption of fossil fuel in vehicles. “I’m a big believer in letting markets figure that out,” he added.