Forest NB members and industry stakeholders attended a carbon pricing workshop in Fredericton on Friday to explore options regarding a provincial carbon pricing model.
Chris Walton from Arbora Management Services delivered a presentation describing Ontario’s implementation of their carbon taxation model in recent years. The meeting was called in anticipation of the carbon tax policy being drafted by the provincial government.
The New Brunswick forest industry is referencing other province’s pricing models and consulting experts like Walton in order to make a recommendation on which model the provincial government should implement.
Carbon taxing is a government regulation that causes facilities like mills and factories to make a conscious effort to reduce their annual carbon emissions.
“Forest NB understands the importance of developing a well thought out carbon pricing model,” said Forest NB executive director Mike Legere. “Bringing in expertise to look at different models and how we can adapt them to a New Brunswick solution is important to achieving our climate change goals while keeping our sector competitive.”
There are three models being debated by New Brunswick’s forest industry. The cap and trade model regulates how much industries can emit, but provides flexibility to realize a benefit from reducing their emissions by trading unused carbon credits. The flat tax model is based on fossil fuel consumption. The third option combines elements from the cap and trade, and the flat tax models.
“Forest NB is taking a lead on this for Forest sector stakeholders,” Legere said. “It’s a great example of Forest NB showing value to our members by representing them on what is a serious issue that will impact their businesses.”
Presentations like these are important to forest industry businesses so they can come to an informed and unified decision. Reducing carbon emissions aligns with Forest NB’s commitment to sustainable and responsible forestry practices.