The Government of the Northwest Territories has released its planned "made in the North" approach to implementing carbon pricing in the territory.
The plan, unveiled Wednesday, looks to balance the introduction of carbon pricing as an incentive to reduce greenhouse gas emissions with investments in initiatives that spur the use of renewable and cleaner fuels, while minimizing impacts on business and cost of living, stated a news release.
Some key elements of the carbon pricing plan include:
- Rebating 100% of the carbon tax for heating fuel for most residents, businesses, and
governments. - Introducing a NWT carbon tax on fuels effective July 1, 2019 based on $20/tonne of
GHG emissions. This would increase annually to $50/tonne. - Excluding aviation fuel from carbon pricing.
“The approach to carbon pricing planned for the NWT balances managing the high cost of living and doing business in the NWT and the need to do our part to address climate change. Carbon pricing is just one of the components of our overall approach and we are implementing it in a way that reflects our northern realities," stated finance minister Robert C. McLeod in the news release.
The "broad based approach" to carbon pricing is the territorial government's answer to Ottawa's mandated levy on greenhouse gas emissions.
Full story to come.
