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The targets agreed to by 197 countries in Paris in 2016 are re-iterated. “The Paris targets are Conservative targets,” the document says, pointing out that the pledge to cut emissions 30 per cent below 2005 levels by 2030 were first developed by Stephen Harper’s Conservative government.

Scheer should be commended for sticking with Paris

The Conservative plan disparages the Liberal carbon tax, which, in the absence of other efforts to curb emissions, will need to rise to $102 per tonne to hit the Paris target (from $20 per tonne today), according to the Parliamentary Budget Officer. It proposes a better way to achieve those goals “without making the lives of Canadian harder or more expensive”: to invest in green technology by levying payment from large emitters who exceed a “Green Investment Standard.” That money would then be invested in research and development into emissions reducing technology.

There is very little detail on the mechanism, but a number of things can be said.

One, the provinces with the most large emitters — Ontario and Alberta — already have a carbon price over a certain cap. It’s not clear if the federal plan would displace the provincial one but given the Conservative Party’s default position on provincial rights it seems unlikely. In other words, this is a policy that might not apply in the provinces where it might actually be effective.

Two, companies that produce a large amount of greenhouse gas emissions per unit of output often compete in tight global markets. A high carbon price would add significantly to costs and allow international competitors to undercut them, leading to “leakage,” where carbon pricing causes polluting activity to emerge elsewhere.