Prime Minister Justin Trudeau pledged that Canada will reduce its emissions by 40 per cent to 45 per cent below 2005 levels by 2030, an acceleration of his climate policy meant to improve the country’s worst-performer status among leading economies and match newly aggressive targets set by the U.S. and other allies.
Trudeau made the announcement at U.S. President Joe Biden’s climate summit on Thursday. Canada is currently on track to cut emissions by 36 per cent below 2005 levels by 2030, according to a Trudeau budget proposal released this week.
“Today, Canada is in a position to raise our climate ambition once again,” said Trudeau at the virtual summit, which is being conducted over videoconference. “We will continually strengthen our plan and take even more actions on our journey to net zero by 2050.”
Canada is the only Group of Seven nation whose harmful emissions have risen since 2015.
Trudeau is facing pressure to pursue a more ambitious climate agenda as countries like the U.S. and U.K. set higher targets. This week, the Trudeau government proposed billions of dollars in spending and incentives to spur a transition to a greener economy. The ruling Liberals are trying to move in lockstep with the Biden administration on climate policy in a cross border effort to slow global warming.
“Our collective success depends on finding a better path, not only to a more sustainable future, but to shared peace and prosperity for everyone,” Trudeau said.
At the opening of the two-day summit, Biden announced that the U.S. would reduce emissions by about 50 per cent of 2005 levels by the end of the decade. The move represents a doubling of the 2025 goals set by President Barack Obama, which were scrapped under President Donald Trump.
“No nation can solve this crisis on our own,” Biden told global leaders at the summit.
The U.K. on Tuesday vowed to cut carbon missions by 78 per cent of 1990 levels by 2035. The country is set to host global leaders in the next round of United Nations climate talks in November
© 2021 Bloomberg L.P.