Already lacking the means to decarbonise their industry or turn to greener alternatives, poor countries could also be deprived of revenues from exports to Europe.
The Paris climate change agreement aims to limit global warming to 1.5C above pre-industrial temperatures — and the federal carbon pricing plan was meant to help Canada meet its commitments.
In the aftermath of the election, what is striking about many of the policy positions of Canada’s federal parties is their timidity, especially when it comes to climate change.
Millions of people worldwide are either indifferent to a carbon tax or opposed. If citizens were motivated by potential carbon dividends, maybe politicians would finally take action on climate change.
There are some good explanations for the mismatch between regional support for climate action and the areas where renewable energy is making the biggest inroads.
Ontario and Saskatchewan are vociferously fighting the federal government’s carbon tax efforts. But rather than back down, Ottawa should embrace a simple, fair and transparent “carbon dividend.”
A recent study suggests that divesting in fossil fuels not only allows investors to address their climate change concerns, it also reduces financial risks and increases financial returns.
Professor of Management & Organizations; Professor of Environment & Sustainability; Professor of Sustainable Enterprise at the Ross School of Business and School of Environment and Sustainability, University of Michigan