During her presentation of the government's budget, Chrystia Freeland, Canada's Minister of Finance, announced that her country would increase efforts to fight global warming from 30% to 36%.
During the Paris Agreement, Canada set the target of 30% reduction in greenhouse gas emissions compared to 2005. On Monday, the minister announced an upward revision, bringing this rate down to 36%. “Canada is now in a position to reduce its emissions to approximately 36% below 2005 levels by 2030,” she said.
The new budget mentions an additional envelope of 17.6 billion Canadian dollars, or 11.6 billion euros, which will be allocated to investments for a "green recovery" of the economy.
The Minister took the opportunity to recall that her country aims to achieve carbon neutrality by 2050.
According to IMF sources: "Canada would be the tenth largest emitter of greenhouse gases in absolute value in 2030." To achieve its objective of carbon neutrality, Canada must therefore reduce its emissions by one third of current levels by 2030 and by two thirds by 2040. Its carbon pricing policy by including a federal carbon price in its legislation should help it greatly.