CLIMATE ACTION INBRITISH COLUMBIA

www.livesmartbc.ca

CLIMATE ACTION INBRITISH COLUMBIA

www.livesmartbc.ca

US Lieberman Warner

2020Target Year

2007Baseline

Year

Current Emissions

2050Target Year

British Columbia’s Legislated Targets

- Personal Transportation - Freight - Electricity Generation

33% Reduction

80% Reduction

6%

Interim Targets

18%

2012 2016

EU Proposed 30% Reduction From 1990 Levels

Reducing BC’s GHG emissions by at least 33% below 2007 levels by 2020 and at least 80% below by 2050

Acting in Every Sector

Government is taking focused action

5 Key Strategies

1. Regulation 2. Fiscal measures

3. Market mechanisms 4. Support for technology

5. Behaviour change

Reaching our Targets

Energy Plan

Tailpipe StandardLow Carbon Fuel

Cap and trade Landfill Gas

Utilities Commission

Green Communities

Carbon Tax Act

Through significant pieces of climate action legislation

Revenue-Neutral Carbon Tax

Returns every dollar collected back to taxpayers

Rewards green choices

New Pollution Tax on Carbon Emissions

$/tonne of carbon dioxide equivalent emissions

2008 2009 2010 2011 2012

$10

$15

$20

$25

$30

Tax cuts, funded by an innovative tax on pollution

New Pollution Tax on Carbon Emissions

Personal income tax reductions

Low income climate action

tax credit

Corporate income tax reductions

Small business corporate income

tax reductions

2008/09 through 2010/11; $ millions

1,8491,849

Carbon tax revenues Tax reductions

255

415

395

784

Every dollar raised by carbon tax is

returned to taxpayers by law

Carbon Emissions Tax

Personal income taxes reduced by an average of 5% for all British

Columbians of the first $70,000 of earnings by 2009, with further

reductions by 2010.

Lower income Climate Action Credit: $100 per adult and $30 per

child per year, rising by 5% in 2009

Corporate income tax reduced to 11% from 12% expected to fall to

10% by 2011

Small business corporate income tax rate reduced from 4.5% to 3.5%, expected to fall to 2.5% by 2011

2008/09 through 2010/11; $ millions

$1,849M

$255M

$415M

$395M

$784M

CLIMATE ACTION INBRITISH COLUMBIA

www.livesmartbc.ca

CLIMATE ACTION INBRITISH COLUMBIA

www.livesmartbc.ca