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The future of Canada's six-year-old carbon pricing system is on shaky ground after 14 oil and gas CEOs and the political opposition leader this week called for its repeal. Scrapping the system, which aims to reduce pollution by giving heavy industry a financial incentive to cut carbon emissions, however, puts the viability of the high-profile Pathways Alliance carbon capture project in doubt. Canada is grappling with changing priorities as US President Donald Trump's tariff threats spur calls to find new markets for energy. The shifting political tides have emboldened some in Canada who believe the country has for too long prioritised its climate goals over the economy. Conservative Leader Pierre Poilievre made the federal carbon system a potential ballot issue on Monday, pledging to repeal it if he wins an election expected on April 28. The system, in place since 2019, aims to reduce pollution by giving heavy industry a financial incentive to cut carbon emissions. Poilievre said he would scrap the federal rules and replace them with expanded federal incentives such as tax credits to encourage companies to cut pollution. Carbon pricing decisions would then be left to individual provinces. Under the current law, industrial operations whose emissions exceed a permitted threshold must either pay the government or buy carbon credits to offset their impact. The system is designed to become more stringent over time, with the price of carbon increasing at specified intervals. Canada's newly sworn-in Liberal Prime Minister Mark Carney, who is narrowly leading polls against Poilievre's Conservatives, told reporters on Tuesday the country needs industrial carbon pricing if it wants to grow its trade volumes with allies. Britain, for example, has said it plans to implement a carbon levy, opens new tab on products imported from countries with less strict climate policies.
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