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Canada’s Carbon Price Floor

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  • Ian W.H. Parry
  • Victor Mylonas

Abstract

Canadian provinces are required to phase in a minimum price of CAN $50 per tonne on carbon dioxide emissions by 2022. This paper discusses the rationale for, and design of, the price floor requirement; its (provincial-level) environmental, fiscal, and economic welfare impacts; monitoring issues; and (national-level) industry incidence. The general conclusion is that the welfare costs and implementation issues are manageable, and pricing provides significant new revenues. A challenge is that the floor price by itself is well short of what will be needed by 2030 for Canada's Paris Agreement pledge.

Suggested Citation

  • Ian W.H. Parry & Victor Mylonas, 2017. "Canada’s Carbon Price Floor," National Tax Journal, National Tax Association;National Tax Journal, vol. 70(4), pages 879-900, December.
    • Handle: RePEc:ntj:journl:v:70:y:2017:i:4:p:879-900
    DOI: 10.17310/ntj.2017.4.09
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    Citations

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    Cited by:

    1. David M. Newbery & David M. Reiner & Robert A. Ritz, 2018. "When is a carbon price floor desirable?," Working Papers EPRG 1816, Energy Policy Research Group, Cambridge Judge Business School, University of Cambridge.
    2. McDonagh, Shane & Wall, David M. & Deane, Paul & Murphy, Jerry D., 2019. "The effect of electricity markets, and renewable electricity penetration, on the levelised cost of energy of an advanced electro-fuel system incorporating carbon capture and utilisation," Renewable Energy, Elsevier, vol. 131(C), pages 364-371.
    3. Mokyr, Joel, 2018. "The past and the future of innovation: Some lessons from economic history," Explorations in Economic History, Elsevier, vol. 69(C), pages 13-26.
    4. de Bruin, Kelly & Yakut, Aykut Mert, 2024. "Efficiency–equity trade-off in the Irish carbon tax: A CGE investigation of mixed revenue recycling schemes," Economic Modelling, Elsevier, vol. 134(C).
    5. Lokuge, Nimanthika & Anders, Sven, 2022. "Carbon-Credit Systems in Agriculture: A Review of Literature," SPP Technical Papers, The School of Public Policy, University of Calgary, vol. 15(12), April.
    6. Barber, Michael & Jones, Maggie E.C., 2021. "Inequalities in test scores between Indigenous and non-Indigenous youth in Canada," Economics of Education Review, Elsevier, vol. 83(C).
    7. Mohamad Issa & Adrian Ilinca & Daniel R. Rousse & Loïc Boulon & Philippe Groleau, 2023. "Renewable Energy and Decarbonization in the Canadian Mining Industry: Opportunities and Challenges," Energies, MDPI, vol. 16(19), pages 1-22, October.

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