Trudeau Urged to Move Quickly on Carbon Pricing Backstop

Canadian firms are proposing major projects to cut emissions
But some say government needs to move faster to hit 2023 goals

Justin Trudeau, Canada's prime minister, speaks at the Australia-Canada Economic Leadership Forum in Toronto, Ontario, Canada, on Tuesday, July 18, 2023. Business and environmental groups are pushing Prime Minister Justin Trudeau’s government to quickly enact a program to guarantee carbon pricing revenue, or else lose out on the investments needed to reach Canada’s climate goals. — Justin Trudeau, Canada's prime minister, speaks at the Australia-Canada Economic Leadership Forum in Toronto, Ontario, Canada, on Tuesday, July 18, 2023. Business and environmental groups are pushing Prime Minister Justin Trudeau’s government to quickly enact a program to guarantee carbon pricing revenue, or else lose out on the investments needed to reach Canada’s climate goals.
Photographer: Galit Rodan/Bloomberg

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By Brian Platt

August 8, 2023 at 4:53 PM UTC

This article is for subscribers only.

Business and environmental groups are pushing Prime Minister Justin Trudeau’s government to quickly enact a program to guarantee carbon pricing revenue, or else lose out on the investments needed to reach Canada’s climate goals.

In a letter to Finance Minister Chrystia Freeland, they asked the government to open up access to the program — known as “contracts for difference” — as widely as possible, instead of doing individual deals with companies.