On October 19, 2016, the federal government announced its plans to implement a carbon tax. Since then, there has been a lot of debate across the country. So, what is a carbon tax? And is it a good or bad thing? Let’s look at both sides of the debate.
A carbon tax is, quite simply, a tax on carbon emissions. It’s designed to discourage the use of fossil fuels, which are the main drivers of climate change. The revenue generated from the tax is designated be used to fund green initiatives across the country.
There are many opinions on whether a carbon tax is a good idea. Some people believe it’s a necessary step in combating climate change while others think it’s nothing more than a way for the government to tax Canadians.
So, what are the pros and cons of a carbon tax?
PROS:
-A carbon tax would incentivize Canadians to use less fossil fuels, and instead opt for cleaner energy sources.
-The revenue generated from the tax could be used to fund green initiatives and help Canada transition to a low-carbon economy.
-The environment slowly becomes healthier due to the reduced quantity of greenhouse gases
CONS:
-Some believe a carbon tax is nothing more than a way for the government to tax Canadians.
-A carbon tax could disproportionately impact low-income households, as they would have to spend more of their income on energy.
-A carbon tax could also make Canada less competitive internationally.
With the environment being the front of mind for society now more than ever, the question still stands: is a carbon tax the best way to reduce greenhouse gas emissions?
Here at Green Terra Innovations, we believe in the goal of the carbon tax, but not necessarily it’s effect. We want to eliminate greenhouse gas emissions, but by helping put money in people’s pockets instead of taking it out.
Every GTI Token on the marketplace is used to fund sustainable, green projects all over the globe. Carbon credits are generated from these projects as they pull greenhouse gases out of the atmosphere or keep emissions from being released. For every metric tonne of greenhouse gas reduced, avoided, or destroyed, one carbon credit is created. These carbon credits can then be bought by some of the world’s biggest polluters to offset their yearly emissions, putting money right back in your wallet
What do you think? Is carbon tax the right way to curb emissions? Or just an excuse to pollute? Let us know in the comments!