Part I: Making Alberta more competitive now and in the future
Making Alberta more competitive now and in the future
We believe Alberta’s new carbon levy is an important opportunity to build clean and renewable energy capacity, achieve greater social acceptance for our oil and gas outside of Alberta, reduce carbon emissions and Alberta’s carbon liability, and improve Alberta’s economic well-being.
It’s a Carbon Levy not a Carbon Tax!
It is our understanding that the guiding principle behind establishing the Carbon Levy in Alberta is to redirect all the collected money towards energy efficiency and minimizing GHG emissions from personal and industrial activities in our province.
Alberta’s $13.7 Billion Carbon Liability
A proper balance sheet for Alberta should include a valuation of the future risk imposed by carbon emissions on the well-being of future generations.
We believe that at some point the insurance industry will most certainly consider placing a carbon price on existing client insurance premiums commensurate with the carbon footprint their corporate and residential clients impose on the planet.
A Price on Carbon can be a Powerful Tool to Make the Economy Stronger
- $3.4 billion for large scale renewable energy, bioenergy and technology
- $2.2 billion for green infrastructure like transit.
- $2.3 billion for carbon rebates to help low- and middle-income families (about 67% of Alberta households)
- $865 million to pay for a cut in the small business tax rate from 3% to 2%
- $195 million to assist coal communities, Indigenous communities and others with adjustment.
Albertans and Alberta businesses that participate in energy efficiency programs funded by the levy will actually wind up in a better economic position.
The Scandinavian Experience
If these other societal and environmental benefits were properly accounted for Alberta’s economy is likely to show a net positive well-being return on investment from the carbon levy.
Alberta’s Efficiency Opportunities
Knowing what the carbon levy is in relationship to personal consumption, will motivate each citizen and their household, each municipality and each region to pursue energy efficiency options and ultimately renewable energy options that will affect their bottom line and will actually reduce the cost of living and improve disposable income.
Following Nova Scotia’s Lead
Through this initiative Nova Scotia has effectively doubled its return on investment!
Embracing the Carbon Levy
This is what we need to do for each other, for our children and for our province.
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