As legislators contemplate Gov. Inslee’s proposal for a carbon tax in Washington, they should know this: Data soundly refutes the misconception that a price on carbon pollution hurts economic competitiveness and growth.
Just look north of the border, where the four provinces with an effective carbon price outperformed the rest of Canada, and the country led the G7 in economic growth in 2017. British Columbia, Alberta, Ontario and Québec saw 3.2 percent, 4.1 percent, 2.9 percent and 2.8 percent in real Gross Domestic Product growth, respectively, according to preliminary numbers from RBC Economics Research.
Today, pricing carbon pollution is mainstream economic policy in Canada. Carbon pricing systems already cover 86 percent of the population, and this year will see carbon pricing come to all regions of Canada.
Acting on the climate challenge goes hand-in-hand with strong economic performance, and helps to future-proof the economy in the longer-term.
