PBO Emissions Cap Report is Flawed: Another Parliamentary Budget Officer Report Misses the Mark
Mar 15, 2025
The recent emissions cap report is critiqued for missing key benefits, much like ignoring safety advantages of seat belts. There are comparisons made to the outdated horse-drawn carriage industry, highlighting missed opportunities in job growth. The podcast emphasizes the need for Canada to pursue effective climate policies that champion innovation and safeguard health. With wealthy corporations being allowed to pollute, the conversation urges Canada to be different and maintain its stride in reducing corporate emissions.
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insights INSIGHT
Importance of Climate Policy for Canadian Sovereignty
Canada must prioritize climate action for economic and practical reasons, not just moral ones.
Strong climate policies, like the emissions cap, can drive green innovation and create local jobs.
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Emissions Cap and Oil and Gas Production
Oil and gas production can reach record highs under an emissions cap, as long as companies meet minimum emissions reductions.
Offshore oil operators could profit by selling carbon credits to higher-polluting projects.
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Flawed PBO Report Analogy
The PBO report's failure to consider emissions cap benefits is like analyzing seatbelt costs without acknowledging safety benefits.
It's comparable to studying job losses in the horse-drawn carriage industry without considering car industry job growth.
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The PBO emissions cap report is as ridiculous as a report on the costs to the economy of requiring seat belts in cars that does not account for any of the benefits of having seat belts in cars. It also comes as ultra-rich corporations in the U.S. are being given free reign to pollute as much as they like.Canada can, and must, be different – for practical and economic reasons.
Most Canadians (65 per cent) agree that Canada should invest in renewable energy instead of fossil fuel developments.
A majority of Canadians (62 per cent) agree that Canada should maintain its climate commitments independent of the United States administration’s decisions, including its withdrawal from the UN Paris Agreement on climate.
- As of March 10th, 2025 according to polling by Leger. We must not lose the progress we have made in reducing corporate pollution.
The Office of the Parliamentary Budget Officer ( PBO ) report on the emissions cap is out and we outline it’s flaws in this week's podcast episode. Find sources and more information here: https://www.sierraclub.ca/pbo-emissions-cap-report/
Another analogy for how bad the PBO's report is would be a historical study of diminishing job growth in the horse-drawn carriage industry, due to the rise of cars, without factoring in the increased job growth in car production.
The Environment in Canada Podcast