Climate Leadership

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c l i m a t e l e a d e r s h i p, e c o n o m i c p r o s p e r i t y climate leadership, economic prosperity final report on an economic study of g r e e n h o u s e g a s ta r g e t s a n d p o l i c i e s f o r c a n a d a Climate Leadership, Economic Prosperity: Final report on an economic study of greenhouse gas targets and policies for Canada Copyright © 2009 Pembina Institute and David Suzuki Foundation ISBN 978-1-897375-28-0 Canadian Cataloguing in Publication Data for this publicati
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  lat ladh,  ty   final report on an economic study ofgreenhouse gas targets and policies for canada climate leadership,economic prosperity  Climate Leadership, Economic Prosperity: Final report on an economic study of greenhouse gastargets and policies for Canada Copyright © 2009 Pembina Institute and David Suzuki FoundationISBN 978-1-897375-28-0Canadian Cataloguing in Publication Data for this publication is available through the National Library of CanadaWritten by: Matthew Bramley of the Pembina Institute, and Pierre Sadik and Dale Marshall of theDavid Suzuki Foundation Acknowledgements The authors would like to express sincere thanks to Chris Bataille and the other members of theeconomic modelling team at M.K. Jaccard and Associates Inc. for their hard work on this project beyondthe call of duty.We would also like to acknowledge the valuable input of the members of our expert advisory committeefor this project: Craig Alexander (TD Bank Financial Group), John Drexhage (International Institute forSustainable Development), Alex Long (National Round Table on the Environment and the Economy),Keith Stewart (WWF-Canada) and Alex Wood (Sustainable Prosperity).We thank Clare Demerse and Matt Horne of the Pembina Institute, and Morag Carter and Ian Bruceof the David Suzuki Foundation, for their helpful review comments.We are grateful to TD Bank Financial Group for providing funding for this project. The Bank isinterested in promoting sound analysis of the interaction between the environment and the economy.TD does not advocate any particular greenhouse gas targets for Canada.This project was also made possible by the generous support of the Patrick and Barbara KeenanFoundation.The Pembina Institute and the David Suzuki Foundation remain solely responsible for the contentsof this report. Notice – Position of the David Suzuki Foundation In many instances the technology choices exhibited in this report reect the outcomes produced by the CIMS model in response to the application of a stringent, economy-wide carbon price. Likewise,some of the policy choices have been constrained by the model. Accordingly, it should be noted that thetechnology and policy choices in this report only represent some of the potential scenarios for achievinga GHG emission reduction target in 2020, and should not be construed as a specic endorsement of each of these technologies and policies by the David Suzuki Foundation. design and production: Arin Graham, Alaris Design photographs: iStock.com  Co EXECUTIVE SUMMARY|  iii INTRODUCTION|  1 1. ECONOMIC MODELLING RESULTS  |  3 2. FEDERAL AND PROVINCIAL GOVERNMENTPOLICIES REqUIRED   |  10 3. CLIMATE SCIENCE AND GHG TARGETS FOR CANADAAND THE INDUSTRIALIED ORLD  |  14 NOTES|  16
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