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08 Jan 2008 03:01:02

Calls grow for Canadian carbon market

Calls grow for Canadian carbon market
A government-backed panel has called on the Canadian administration to establish a carbon market, submitting greenhouse gas emissions to taxes, caps and trading plans.

The National Round Table on the Environment and the Economy report stated that the taxes and charges were necessary if Canada is to meet its target of reducing carbon emissions by up to 60 per cent before 2050.

Warning of the probability of missing the targets in the event of failing to introduce a nationwide carbon market, the chair of the panel, Glenn Murray, told the Star that change was necessary as soon as possible.

"As long as...carbon can be emitted freely, it will be extremely challenging, to say the least, to achieve any significant reductions."

"Market-based policies that put a price on carbon to send an economy-wide signal on emissions are the most effective way to achieve deep, long-term greenhouse gas emission reductions of the scale being considered," he added.

However, the Globe and Mail reported that environment minister John Baird had rejected the report's proposals for a carbon tax, instead guaranteeing new rules forcing industries to reduce their overall emissions.ADNFCR-1235-ID-18417858-ADNFCR

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