In more climate policy swings, newly-elected Canadian Prime Minister Mark Carney – previously considered a climate hero
“… signed an order on Friday eliminating a controversial consumer carbon tax, the ‘fuel charge,’ effective April 1, 2025.
Introduced in 2019, the fuel charge aimed to introduce a price on carbon for businesses and consumers in order to incentivize emissions reductions and to adopt cleaner technologies and products. The carbon tax started at $20 per tonne in 2019, and has been increasing annually, and was set to reach $170 per tonne in 2030.”
ESG Today reported the news, clarifying that “the carbon price on businesses will remain in place” along with new plans that include a Carbon Border Adjustment Mechanism (CBAM).
Members can read more about developments in carbon policy and regulation here.
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