Our findings and recommendations are based on extensive, original modelling and data analysis that were, in turn, subjected to further consideration by numerous industry and environmental experts and stakeholders across Canada. The Advisory Report sets out clear recommendations for effective action to achieve the government’s stated goal of deep, long-term greenhouse gas emission reductions of 65% below current levels by 2050. It concludes that achieving the government’s long-term goal is feasible with the right policy pathway, and will result in significant GHG emission reductions at a manageable national economic cost over the long run.
The most central recommendation in that policy pathway is to establish an economy-wide price on carbon as soon as possible. Our research shows that sending such a price signal is the most effective means to achieving the government’s deep GHG emission reductions. Our research also indicates that delay in doing so will affect our ability to achieve these targets without higher economic and environmental costs, and that certain sectors and regions of the country are impacted more than others. For these and other reasons, we have also set out five key “enabling conditions” that should be considered as Canada transitions to a pathway for achieving deep emission reductions.