Canadian Business leaders join the Carbon Pricing Leadership Coalition

Catherine McKenna, Minister of Environment and Climate Change

Toronto, Ontario – July 15, 2016 – Minister of Environment and Climate Change, Catherine McKenna met today with the leaders of several major Canadian companies that are new private sector partners of the Carbon Pricing Leadership Coalition.

The Carbon Pricing Leadership Coalition (CPLC) is a voluntary initiative that supports and encourages successful implementation of carbon pricing around the world.

It was originally initiated by the World Bank at the 2014 United Nations Climate Change Summit in New York City, and officially launched at the Paris Climate Conference, COP21, at the end of 2015.

The goal of the CPLC is to expand the use of effective carbon pricing policies as a market mechanism to drive competitiveness, create jobs, encourage innovation, and deliver meaningful emissions reductions.

CPLC members agree to advance carbon pricing by working with each other towards the long‑term objective of a carbon price applied throughout the global economy by:

• Strengthening carbon pricing policies to redirect investment proportionate to the scale of the climate challenge;
• Bringing forward carbon pricing policies and strengthening existing ones to better manage investment risks and opportunities; and
• Enhancing cooperation to share information, expertise and best practices.

“Today, we have held highly productive discussions about the path toward significant reductions in greenhouse gas emissions in Canada,” said Minister McKenna in a joint communique.

“The common theme throughout was that carbon pricing is one of the most efficient ways to reduce emissions and stimulate the market to make investments in innovation, and to deploy low-carbon technology.”

“World economies are shifting ‎towards cleaner, more sustainable growth, and Canada must keep up to stay competitive on the world stage,” she added, noting that Canadian business leaders understand the opportunities associated with this shift. They know that a clean environment and a strong economy go hand-in-hand.”

The companies represented in the group meeting with the Minister included: Air Canada. Barrick Gold Corporation. BMO Financial Group, Canadian Tire Corporation, Carbon Engineering Ltd., Catalyst Paper Corporation, Cement Association of Canada, Cenovus Energy Inc., Desjardins Group, Enbridge Inc., IKEA Canada, Loblaw Companies Limited, Resolute Forest Products Inc., Royal Bank of Canada, Scotiabank, Shell Canada Limited, Suncor Energy, TD Bank Group,
Teck Resources Limited, TELUS, The Co-operators Group Limited. The Toronto Dominion Bank Group, TransCanada Corporation, and Unilever Canada Inc.

The CPLC uses evidence and experience to inform successful carbon pricing policy development and use of carbon pricing in businesses, and helps to deepen understanding of the business and economic cases for carbon pricing.

The group brings together leaders from government, business, and civil society to support the introduction of carbon pricing and accelerate the use of carbon pricing around the world.

In addition to private sector partners membership also includes 20 national governments, five subnational governments and over 30 strategic partners.