And now a word from Diana Carney -

And now a word from Diana Carney

The wife of the bank governor on the carbon pricing debate


Ahead of a forum in Ottawa tonight on carbon pricing, Diana Carney—wife of the Bank of Canada governor—considers the state of debate in Canada.

The most immediate concern is, then, that the current approach will fall significantly short of yielding the reductions required to meet Canada’s stated target (17% below 2005 levels by 2020). Indeed, there is presently no basis for a serious claim that we will meet our Copenhagen commitment. Current Environment Canada projections are for a 113 megatonnes shortfall in reduction by 2020 (that is assuming that all the measures and regulations that governments across Canada are putting in place have the desired effect). That would mean that we will have succeeded in reducing emissions compared to 2005 levels by only 20 megatonnes or less than 3%.15 No government could be proud of such ‘achievement’.

Unfortunately, constructive dialogue on how we might reduce the gap has ceased, and name-calling has taken its place. Carbon pricing of any type is characterized as a ‘tax on everything’. This serves neither the goals of the government nor the well-being of Canadians, particularly since it is far from clear that the targets to which we are committed are adequate for the long term.

Grant Bishop adds his thoughts. Among the panel participants will be Bob Inglis, the former Republican congressman.