An update to provincial carbon pricing model hopes to lower emissions in BC.
The province will be shifting to an output-based pricing system, which puts a price on emissions from industrial facilities emitting more than 10-thousand tonnes of carbon dioxide every year.
The changes will include smaller facilities that were previously excluded from the system, the province hopes it will incentivize more clean technology innovation.
Minister of Environment and Climate Change George Heyman says climate change continues to hit BCers close to home.
“It’s costing families and businesses both money and opportunities. We all need to do our part,” said Heyman.
“Some people want to shut down industry, while others do not want any accountability for big polluters. We think there is a better way to move forward, one that reduces climate pollution by providing both incentives and assistance to industry to reduce emissions.”
The legislature believes this shift in regulation will support their goal of reducing provincial emissions by 80 per cent by 2050.
The output-based model comes into effect on April 1st.
