Opinion
Thermometer rising: climate change and Canada’s economic future
By Timothy Lane Mar. 20, 2017
Setting the right price for carbon is at the core of Canada’s strategy to tackle climate change.
Canada's federal Environment Minister Catherine McKenna, pictured. In Canada alone, it has been estimated that, in the absence of action to address global warming, we would face annual costs of between $21-billion and $43-billion by the 2050s. Such costs would take a number of forms, writes Bank of Canada's deputy governor Timothy Lane.
The Hill Times photograph by Sam Garcia
The following is a reprint of a speech by Bank of Canada deputy governor Timothy Lane, which he delivered to the Finance and Sustainability Initiative in Montreal on March 2. The speech has been edited for length. MONTREAL—The connection between climate change and the Bank of Canada’s responsibilities for the stability of prices and the financial system is not an obvious one. We are not experts on climate science, nor do we control the tools to limit global
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