The Globe and Mail discloses today that an unreleased report by the National Round Table on the Environment and the Economy says we must act now to price emissions. If the government does not implement a carbon tax or a cap and trade system, our economy could be seriously damaged in the future.

“If the government neglects to clearly communicate the [greenhouse gas] price schedule well in advance, it risks causing serious economic dislocation … because society’s capital stocks will not be well prepared,” the report warns.

A senior government official has announced that China will consider an environmental tax on polluters in an effort to reduce emissions. It is predicted that China will become the biggest emitter of greenhouse gases, overtaking the United States some time this year or next.

Carole Taylor, Finance Minister of British Columbia is pursuing a carbon tax that looks to levy substantial fees on activities that emit greenhouse gases.

Source: Point Carbon

“Four out of five people are prepared to change their lifestyle to help combat climate change, with half ready to pay more in energy taxes, according to a BBC poll of 22,000 people in 21 countries.”

When the province of Quebec signed the first carbon tax, the intention was for energy producers to pay for its new green fund aimed at reducing greenhouse gases. However, now the bill is ending up in the hands of consumers.

Air Passenger Duty (APD) is expected to be replaced by a levy charge determined by aircraft weight and distance traveled by 2009, according to the UK’s aviation tax proposal.

“British Columbia has given business some much-needed certainty on the climate change file, at least as far as its carbon tax plans go.” A price of $10 per tonne will be charged on carbon emissions from fossil fuels beginning in July and will be built into the price of fuel.

United Kingdom – “Buyers of the most fuel-hungry vehicles must pay a showroom tax of nearly £1,000 from 2010 after high-emission cars were targeted in an overhaul of the road tax regime yesterday.”

Northern communities in British Columbia are opposing the government’s new carbon tax program. Residents in remote areas feel that they are being penalized over fuel consumption choices that they have no control over “due to distance, climate and resource-based livelihoods.”

Liberal Leader Stéphane Dion is looking into ways to fight climate change, with carbon tax as a serious consideration.