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CME to First Ministers: Climate change is an investment issue

Published by Brad Fougere on March 02, 2016

Canadian Manufacturers & Exporters President and CEO Jayson Myers sent a letter to Prime Minister Trudeau and all premiers ahead of meetings in Vancouver on Thursday urging ministers to recognize that regulations, carbon taxes, and cap-and-trade programs will not be sufficient in themselves to meet Canada’s GHG emission reduction targets. 

“Policy measures that boost investment will be positive for the economy as well as for the environment,” Myers said.  “In fact, the only way that Canada can reduce emissions and sustain economic growth is by boosting the rate of capital investment by consumers, businesses, and governments.”

Measures to encourage investment in and the use of more energy efficient practices and technologies have been and will ever be the best path to GHG reduction and ensure economic growth, increased productivity and innovation.

“We need to triple the rate of technological progress we have been able to achieve over the past 25 years,” Myers added.  “That will not happen if we simply tax away money that households and industry have to invest.”

Examples of proven proven methods include the adoption of more productive and less carbon-intensive industrial processes and land-use management practices, the substitution of less carbon-intensive fuels, and the construction of smarter, more efficient energy and transportation infrastructure.

“It’s important not confuse the introduction of regulations, carbon taxes, or cap and trade for real progress in reducing GHG emissions.” 

Read CME's letter to Prime Minister Justin Trudeau here.

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