Despite the failure of the federal carbon tax to reduce emissions, Canada and the European Union are expected to further push for global pollution pricing by aligning their climate commitments at the upcoming 2023 United Nations Climate Change Conference (COP28) in the form of a “Green Alliance.”
European Commission documents seen by Bloomberg indicate that the two trading partners will announce a plan to expand carbon pricing globally and produce more renewables.
The alliance is said to include a pledge on behalf of Ottawa to triple its renewable energy sources and double energy efficiency by 2030.
According to the document, carbon taxes are “one of the most efficient and cost-effective ways to reduce greenhouse gas emissions and to spur investment and innovation in low-carbon solutions.”
In fact, Canada has a federal carbon tax, yet carbon emissions have increased year-over-year – except for a decline recorded during nationwide lockdowns due to the Covid-19 pandemic.
A recent report by Canada’s environment commissioner also found that despite the federal government’s heavy-handed climate measures, Canada was not on track to meet its environmental commitments.
This is not the first time that a “green alliance” between Canada and the EU has been hinted at.
In March, Prime Minister Justin Trudeau spoke of said cooperation during a joint-statement with European Commission President Ursula von der Leyen.
“Finally, last but certainly not least, we discussed our cooperation on climate change. We are in a very strong position to lead the way globally. And together, we can rally the international community behind net zero by 2050,” said Trudeau.
“I am very happy to work for the European Union to join your Global Carbon Pricing Challenge. And finally, we want to create, as an overarching topic, basically as an umbrella, a green alliance between the European Union and Canada.”
Prime Minister Trudeau was also named the Co-Chair of the UN Social Development Goals (SDG) Advocates group last year.
A report recently released by Environment and Climate Change Canada lists a “Green Alliance” with the EU as a work in progress towards advancing SDG 17.
“Canada is negotiating a Green Alliance with the EU that will elevate climate and environment cooperation,” the report declared.