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New Report Supports BC Liberal Climate Action Strategy

April 16, 2009
New Report Supports BC Liberal Climate Action Strategy

A new report released today by the National Roundtable on the Environment and the Economy (NREE) provides more evidence that the BC Liberal plan is the right approach to combating climate change, said Environment Minister Barry Penner.
 
"This report confirms that Canada needs to dramatically reduce greenhouse gas emissions if our country is going to combat climate change, and the authors are clearly looking to B.C.'s leadership for solutions," said Penner. "To achieve that objective, the report confirms that establishing an economy-wide price on carbon emissions is the best way to most efficiently meet our goals, while providing maximum benefit to both the environment and the economy."
 
The NREE report today recommends that Canada establish a national cap-and-trade program as a core approach to pricing carbon and a means to reach a total reduction of 20 percent over 2006 levels by 2020. This report also confirms BC's position that market mechanisms like cap-and-trade are the lowest cost options for reducing greenhouse gas emissions. This report was drafted by a number of national industry and environmental representatives including international expert and Nobel Laureate Dr. Mark Jaccard, and confirms a number of conclusions already established within British Columbia's Climate Action Plan.
 
"A cap and trade system is a central component of the BC Liberal government's Climate Action Plan, which we released in 2008. We were the first jurisdiction in Canada to legislate a cap and trade system, which Carole James and the NDP voted against," said Penner. "BC is co-chairing a partnership with 11 other jurisdictions under the Western Climate Initiative that is planning to have a trading system in place as early as 2012. Our early action on cap and trade gives B.C. a head-start on a potential national framework. In contrast, the NDP's policies have become the ridicule of the international environmental and economic community."
 
Penner notes that B.C. continues to have an even more aggressive target than the federal target - a 33 percent reduction in emissions by 2020. This further validates the importance of a tax on carbon emissions that will capture emissions not covered by a cap and trade system and allow BC to meet its more aggressive targets. The BC tax on carbon emissions is 100% revenue neutral, with all revenue generated by the tax on carbon emissions being used to cut other taxes and making BC's economy even more competitive.  In contrast, the NDP's short-sighted decision to scrap that tax and place the full burden on rural industries will cost the B.C. economy nearly 60,000 jobs, according to a study released last Friday.
 
"Experts around the world and at home agree we cannot wait to fight the devastation of climate change," said Penner. "What's clear from this report is that we need to act today. This makes it all the more shocking that the NDP continue to reject the advice of experts and promote climate policies based on nothing but politics and recklessness."

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Authorized By Jim Pipe, Financial Agent BC Liberal Party.
Tel: 604.606.6000, 1.800.567.2257