2024 Independent Assessment of Carbon Pricing Systems

This report presents the findings of the 2024 Independent Assessment of Carbon Pricing Systems conducted by the Canadian Climate Institute, commissioned by Environment and Climate Change Canada. The assessment evaluates the effectiveness and stringency of carbon pricing systems across Canada, building on a similar assessment from 2020-21. The Institute engaged with federal and provincial governments and consulted external experts to ensure the accuracy of the information. The report outlines the scope of the assessment, which includes an analysis of carbon pricing's coverage and stringency indicators. It details the effectiveness of carbon pricing systems in 2024 and projections for 2030, examining large-emitter trading systems and their implications for competitiveness. The report does not provide policy recommendations but references a separate summary report for modernization suggestions. The findings are intended to inform stakeholders about the current state of carbon pricing systems in Canada.