Photo: Bill Metcalfe“Investors are increasingly aware of the risks on their returns if they support concerns that do not have realistic strategies to deal with transition, and for this reason also it is hazardous to our economy to continue to promote oil production,” writes Marylee Banyard. Photo: Bill Metcalfe

LETTER: Conservatives, please admit that carbon pricing works

From reader Marylee Banyard

While I am relieved that the Conservative Party of Canada is developing a climate change plan, I also have some concerns regarding their approach.

Much of the current disruption is caused by our overuse of fossil fuels, and for that reason it is imperative that all parties collaborate to transition to clean energy.

Investors are increasingly aware of the risks on their returns if they support concerns that do not have realistic strategies to deal with transition, and for this reason also it is hazardous to our economy to continue to promote oil production. Carbon pricing has actually been shown throughout the world to be effective in reducing the use of carbon. It does work, and should be acknowledged. It puts companies in a better position to deal and compete globally. A healthy climate is a financial gain for business and a necessity for our health. Carbon pricing, giving money back to tax payers, is proven to be the best way to go by the Pembina Institute.

It is dangerous for us to continue to build infrastructure for oil on the pretext of supplying developing countries with “clean” fuel. On the one hand it would lock in the energy choices of client countries over the long term, which could delay their transition to a low carbon economy, and it could leave us holding unwanted and expensive infrastructure ourselves as the younger economies achieve their own independence. We need, rather, to support these countries to leapfrog over out-dated energy sources, which they are trying to do, and capable of doing.

The boost to our economy of job transition has been stated many times.

As our part of our post-COVID recovery plan we urgently need to transition out of fossil fuels, which are such a threat to our health and economy.

Marylee Banyard

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