Lessons from B.C.’s carbon tax | Blog Posts | Pembina Institute.
It’s been hailed as an environmental and economic “success,” a “textbook case” in carbon pricing and “on the right track” toward good economic policy. British Columbia’s carbon tax has been in place for six years, and all available evidence shows it’s working.
Here’s the big news: per capita fuel use covered by the tax has dropped by 16 per cent in the province relative to 2008 (the year the carbon tax came into effect), and so too has carbon pollution. That’s good for the environment. Meantime, B.C.’s economy has outpaced the rest of Canada’s over the same period. That’s great for jobs and the economy.
Our new backgrounder summarizes B.C.’s terrific success with its carbon tax. The economic, environmental and social lessons are worth reflecting upon — both in B.C. and in jurisdictions considering similar carbon pricing approaches, as what we see in B.C. is a leading example of how to price carbon effectively.
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