Costs to Canada of inaction in addressing climate change. This is particularly acute in the context of the debate over the carbon tax, and whether it should be trashed.
The Parliamentary Budget Officer estimated that the carbon tax would result in a decrease of GDP growth of 0.62%, off of an estimated annual growth of 1.72%. Extrapolating that to 2030 brings us a cost of roughly $17 billion, which is in the ballpark of the 2° and 3° scenarios noted in this table. Add in costs associated with air pollution, estimate by Health Canada to be in the range of $120billion per year, and the value of anything that reduces emissions from the tailpipe is made even more clear.
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