Justin Trudeau's government may well succeed this fall at establishing a nationally recognized price on the carbon emissions that drive climate change. Buried in the explanatory notes of various federal regulations passed in recent years is a measurement known as the "social cost of carbon." That is, the price we pay for the goods that produce carbon emissions does not account for the consequences of those emissions. Canadian regulations on new vehicles in 2012 were estimated to reduce carbon emissions by 162 megatonnes in the federal government's behind-the-scenes 'social cost of carbon.' (Canadian Press)Canadian regulations on new vehicles in 2012, for instance, were estimated to reduce carbon emissions by 162 megatonnes, thus providing a benefit of $3.9 billion.

Source: CBC News October 02, 2016 09:00 UTC