How the Carbon Tax Got Alberta Off Coal and Could Reduce Future Wildfires | Sierra Club Canada

Jun 4, 2024 | The Environment in Canada Podcast Episode 19 on the Carbon Tax, Alberta Getting off Coal, and Future Wildfires underscores the emergent need for a comprehensive understanding of carbon pricing and its benefits. Far from being mutually exclusive, Canada can implement a robust carbon pricing system while addressing inflation and paving the way for a green future.

In this episode, Dr. Chris Ragan and Dr. Joe Vipond cover how carbon pricing works and its positive impact in reducing industrial emissions and aiding Alberta's transition off coal. They discuss the effectiveness of the rebate system, the agreement among over 400 economists that most families receive more back than they pay, and who these economists are. "The beauty of a carbon price lies in its ability to align private interests with public interests. The public interest is to reduce emissions, while private interests focus on cutting costs and increasing profits. By attaching a price to carbon and requiring businesses to pay for the social costs of their emissions, these interests become aligned. When carbon policies are designed and implemented effectively, businesses are incentivized to reduce emissions, benefiting both society and their bottom line," tells Ragan. They highlight the necessity of climate action for Canada, and the economic opportunities at risk without effective climate policies.