New Climate Targets A Positive Step, Need to be Backed with New Policy

Clean Prosperity Executive Director Michael Bernstein made the following statement.

“The new climate target announced at today’s Earth Day Summit by Prime Minister Trudeau is a positive step forward in the battle against climate change,” said Clean Prosperity Executive Director Michael Bernstein, in response to Mr. Trudeau’s commitment to reduce Canada’s emissions by 40-45% per cent below 2005 levels by 2030. 

“While Canada’s peers like the US, the UK, and the EU have announced even more ambitious targets, the new Canadian commitment should be welcomed as a major improvement over the federal government’s previous 30% reduction target.” 

“It’s important to set goals like the 2030 target, but what matters even more are policies that reduce our emissions and enable us to achieve our goals. Historically, Canada has missed every climate goal it has set, and emissions have barely dropped since 2005. To its credit, the federal government has already presented a credible pathway to achieving a 36% reduction in emissions by 2030. It will need to strengthen its policies further if it is serious about hitting the new climate target announced today.” 

“Achieving a 45% reduction in emissions means Canada needs to get more serious about investing in negative emissions technologies, like direct air capture.”

— Clean Prosperity Executive Director Michael Bernstein

“The fact that the government’s new target is not even higher likely reflects its commitment to fulfill the pledges it is making, and a recognition of how difficult it will be to meet an even steeper target in just over eight years. Achieving a 45% reduction in emissions means Canada needs to get more serious about investing in negative emissions technologies, like direct air capture.” 

“While Clean Prosperity would have welcomed an even more ambitious target, similar to the 50% goal being proposed by the United States, what matters most for the global effort against climate change is the total quantity of emissions we put into the atmosphere. I hope the federal government will consider setting a cumulative emissions target, known as a carbon budget.” 

For more information: media@cleanprosperity.ca

Suggested Reading

New standardized carbon contracts a move forward for low-carbon projects

Today the Canada Growth Fund publicly released its strategy for offering carbon contracts to de-risk investment in low-carbon projects.  The strategy outlines the types of contracts the Growth Fund will offer, including a new commitment to offer standardized contracts to smaller projects, which could boost low-carbon investment across Canada.  Since launching in late 2023, the

Alberta Pexels credit Samuel Butikofer

Second carbon contract is a positive step, broader program needed

Clean Prosperity Executive Director Michael Bernstein made the following statement about the carbon contract for difference announced today between the Canada Growth Fund, Gibson Energy Inc., and Varme Energy Inc.  “The deal announced today is another positive step in the rollout of carbon contracts for difference to de-risk big low-carbon investments,” said Bernstein. “That’s what