The effects of climate change are already being felt, and action to address climate change is being taken now. If it is on a sufficient scale to address the problem, it is also on a sufficient scale to have a meaningful economic impact. The issues are complex, but basic economics can cut through some of the complexity.
Putting a price on carbon is a core element of Canada’s strategy for addressing climate change. And if we get the price right, we can do a lot right. Early steps are also being taken to make the financial system an effective tool for green finance, including here in Canada. There are signs that momentum is building.