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Canadian Carbon Tax Increase

April 3, 2024

Canada has recently increased its carbon tax to $80 CAD as part of its climate and energy strategy. This move sends a strong message that encourages businesses to adopt cleaner energy sources and speeds up the transition process. The impact on consumers is an increase of about 3 cents per litre at the gas pump. Comparatively, fossil fuel subsidies are costing Canadians much more and do not offer a refund like the carbon tax does. Despite this, opponents from the fossil fuel sector are actively challenging the tax, highlighting the need for both political determination and bravery in advancing even gradual climate measures. For a global perspective, refer to the Visual Capitalist‘s visualization on carbon pricing worldwide as of Q3 2023.

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