'That could include legislation to enshrine the carbon price and its upward trajectory into law. Or it could mean signing contracts with investors guaranteeing compensation if the carbon price doesn’t go up as promised, negatively affecting their investment.
'The promise is made in the new emissions reduction report tabled Tuesday by Environment Minister Steven Guilbeault, which says carbon pricing is the “cornerstone” of Canada’s climate action plan.
'Pollution, including greenhouse gas emissions, has a societal cost and carbon pricing is a method of applying those costs to the person or entity doing the emitting. It also makes investing in technology that reduces emissions more economically appealing than the status quo.'