CLIMATE ACTION IN BRITISH COLUMBIA
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Transcript of CLIMATE ACTION IN BRITISH COLUMBIA
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CLIMATE ACTION INBRITISH COLUMBIA
www.livesmartbc.ca
CLIMATE ACTION INBRITISH COLUMBIA
www.livesmartbc.ca
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US Lieberman Warner
2020Target Year
2007Baseline
Year
Current Emissions
2050Target Year
British Columbia’s Legislated Targets
- Personal Transportation - Freight - Electricity Generation
33% Reduction
80% Reduction
6%
Interim Targets
18%
2012 2016
EU Proposed 30% Reduction From 1990 Levels
Reducing BC’s GHG emissions by at least 33% below 2007 levels by 2020 and at least 80% below by 2050
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Acting in Every Sector
Government is taking focused action
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5 Key Strategies
1. Regulation 2. Fiscal measures
3. Market mechanisms 4. Support for technology
5. Behaviour change
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Reaching our Targets
Energy Plan
Tailpipe StandardLow Carbon Fuel
Cap and trade Landfill Gas
Utilities Commission
Green Communities
Carbon Tax Act
Through significant pieces of climate action legislation
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Revenue-Neutral Carbon Tax
Returns every dollar collected back to taxpayers
Rewards green choices
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New Pollution Tax on Carbon Emissions
$/tonne of carbon dioxide equivalent emissions
2008 2009 2010 2011 2012
$10
$15
$20
$25
$30
Tax cuts, funded by an innovative tax on pollution
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New Pollution Tax on Carbon Emissions
Personal income tax reductions
Low income climate action
tax credit
Corporate income tax reductions
Small business corporate income
tax reductions
2008/09 through 2010/11; $ millions
1,8491,849
Carbon tax revenues Tax reductions
255
415
395
784
Every dollar raised by carbon tax is
returned to taxpayers by law
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Carbon Emissions Tax
Personal income taxes reduced by an average of 5% for all British
Columbians of the first $70,000 of earnings by 2009, with further
reductions by 2010.
Lower income Climate Action Credit: $100 per adult and $30 per
child per year, rising by 5% in 2009
Corporate income tax reduced to 11% from 12% expected to fall to
10% by 2011
Small business corporate income tax rate reduced from 4.5% to 3.5%, expected to fall to 2.5% by 2011
2008/09 through 2010/11; $ millions
$1,849M
$255M
$415M
$395M
$784M
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CLIMATE ACTION INBRITISH COLUMBIA
www.livesmartbc.ca
CLIMATE ACTION INBRITISH COLUMBIA
www.livesmartbc.ca
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