Ministry of Environment
VANCOUVER – Environment Minister Mary Polak recently congratulated Mexico and France at GLOBE 2014 for putting a price on carbon, just as British Columbia has already done with its revenue-neutral carbon tax.
"B.C. is proud to welcome France and Mexico to the growing number of jurisdictions around the world showing leadership by pricing carbon in the interests of climate action," said Polak. "We know B.C.'s carbon tax is working. Since it was implemented, fossil fuel consumption in the province has gone down by more than the national average. Our GHG emissions levels are currently below 2007 levels, while B.C.'s economic growth, including during the recession and recovery, has matched Canada's, and B.C.'s population has grown faster. We expect France and Mexico to experience similar success."
Mexico and France's carbon taxes have been in effect since Jan. 1, 2014.
B.C.'s carbon tax is revenue neutral, meaning every dollar generated by the tax is returned to British Columbians through personal and business tax cuts. Since 2008, the carbon tax has raised more than $4.8 billion – all reinvested into tax reductions for businesses, individuals and families.
In October 2013, Oregon and Washington State committed to putting a price on carbon, joining Pacific Coast Collaborative partners British Columbia and California. The three Pacific states and B.C. have a combined population of about 53 million. The regional economy has a combined GDP of $2.8 trillion, which makes it the world's fifth-largest.