Long-term economic vision needed to get to net zero, say Coalition for a Better Future co-chairs

Canada is starting to see some climate policies working to reduce greenhouse gas emissions, but more needs to be done, said Coalition for a Future Better co-chairs Anne MacLellan and Lisa Raitt.

They told the audience at a Canada 2020 Net Zero Summit on April 19 that Canada is going in the right direction in terms of investments in clean tech, however there are some challenges, including competing with the U.S.’s green transformation.

“For us it's always about the long-term economic vision,” Raitt said. “There's no more greater example of how [the economy and reducing emissions] are linked than in the U.S. and the Inflation Reduction Act. There's been billions invested since the IRA was announced and 44,000 jobs created in the Rustbelt. It’s rooted in emissions reductions and decarbonization.”

Meanwhile, a poll for Canada 2020 released the same day found that the majority of Canadians don’t believe our climate targets and moving to net zero by 2050 will be met.

Former Bank of Canada governor Mark Carney also spoke at the Net Zero Summit and said that “We need transformation on the scale of the Industrial Revolution but at the pace of the digital revolution.”

Reducing carbon emissions will save Canadians millions of dollars, Environment Minister Steven Guildbeault told the audience.

He pointed out that the economic cost of greenhouse gas emissions is five times more than previously thought. Seven years ago estimates pegged the cost at $54 a tonne by 2020, but Guilbeault said that number was actually closer to $247. Today, it’s $261 and will rise to $294 by 2030.

“Pause for a moment to understand what this signifies,” Guilbeault said.

“Every tonne of carbon we reduce this year saves society as a whole $261 — and we are talking in terms of cutting megatonnes: millions of tonnes.”

During her panel, Raitt said that while Canadians understand something needs to be done, it’s difficult for politicians to move past the “personal economy” and implement policies that will cost Canadians more.

McLellan said that politicians need to be honest with Canadians about the cost and motivate them to make sacrifices.

“No one is getting elected in this country without a concrete clear plan for climate change. What that means is as opposed to jargon around net zero, talk about what are the sacrifices that each one of us needs to make,” she said. “I understand the carbon tax is controversial, but my god, if we as Canadians are not willing to make that sacrifice on my power bill, then I'm sorry, what are we doing? Politicians have to get honest with us.”

Raitt added that any path to net zero must include Indigenous Peoples. “For true economic reconciliation we need a mechanism for Indigenous participation. That truly, truly is a game changer and is so necessary,” she said.

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