Revenue Neutral Carbon Tax

Around the world, people are paying the price for carbon emissions—losing their property to rising sea levels, their crops to drought, their homes to floods, their lives to heat waves. As a result, momentum is growing among countries, provinces, states and cities worldwide to put a price on carbon pollution as a way to reduce emissions and drive investment into cleaner options.

In 2008, the Canadian province of British Columbia introduced North America’s first revenue-neutral carbon tax applied to the purchase or use of fuel in British Columbia. The carbon tax has been hailed as the most comprehensive of its kind, covering approximately 70% of provincial emissions. Since the tax is revenue neutral, every dollar generated is returned to British Columbians in the form of personal and business tax measures, such as reductions in personal income tax rates, the Low Income Climate Action Tax Credit and corporate income tax reductions.

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