Michael Bernstein, Clean Prosperity’s President and CEO, made the following statement in response to the federal government’s 2025 budget:

“I’m encouraged to see the federal government commit to industrial carbon pricing as the central focus of Canada’s climate competitiveness strategy in today’s budget. 

Industrial carbon pricing can drive tens of billions worth of new investment, creating growth and jobs that Canada urgently needs.

Michael Bernstein, president and CEO, Clean Prosperity

“Industrial carbon pricing can drive tens of billions worth of new investment, creating growth and jobs that Canada urgently needs. 

“This is the clearest commitment yet by a federal government to making carbon pricing the foundation of its approach to decarbonization and low-carbon investment. The government’s plan to set a carbon pricing schedule through 2050 will help give companies the confidence to make major low-carbon investments.

“For carbon pricing to fulfill its potential, the federal government will need to collaborate closely with provinces, as the budget acknowledges. 

“To that end, I’m happy to see the government recognize that strong carbon markets can eliminate the need for unhelpful policies like the oil and gas emissions cap. This is a step in the right direction. Further regulatory streamlining will be needed to drive investment.

“Now, the big prize is a grand bargain between Ottawa and the provinces to accelerate new energy infrastructure and strengthen carbon pricing systems. For this to succeed, carbon pricing needs to be backstopped by joint federal-provincial carbon contracts for difference. A grand bargain could be the breakthrough that unlocks both massive investment and rapid decarbonization.”

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