Top facts related to environmental taxes applicable in Canada

The climate change has emerged as the biggest threat to the environment for the present and the future generation. The global temperature is likely to increase to 5.3° C. The rise of carbon level has resulted in the increase in pollutants at a great rate. The higher temperature will lead to the rise in the sea level, spreading of harmful diseases, lead to the reduction in productivity and hardships and many more threatening factors.

According to reports, the emission of greenhouse gases and carbon dioxide has reached to 400 parts per million in the atmosphere. This is the highest level of carbon dioxide and other gases in the past thousand years.

Key pointers relative to environmental taxation policies

The past few years have noticed the emission of smog, greenhouse gases and other poisonous pollutants in the air that has made the survival difficult for creatures on the Earth. To reduce this problem, the Environmental Policies and Conventions are drafted at the top levels. The developed and underdeveloped nations have come together to enact policies related to EcoTax and the Carbon Tax.

The Canadian government has come up with the policies of applying the Carbon tax in the country that will ultimately lead to lower gas emissions. To promote the greener growth in the country some important facts that can be applied are:

  • Use of various pricing instruments: There are different taxation instruments implemented by the Canadian government on the industries. This will help in lowering the pollution level, as the heavy taxes will lessen the consumption of goods made of polluting products. These taxes fall into the category of transportation, pollution level, energy level and the natural resources. It bears mentioning, that Canadian government also highly watches the gambling industry and expose taxes upon it. That is why only the most secure and proven sources enter the market. To such sources, we can number well-known casino online gaming advisers, which you can help to explore pros and cons of popular entertainment websites.
  • Applicability of economic instruments: In order to reduce the environmental pollution in the country the government is using many economic instruments. These instruments will help in reduction of air pollution that will include tax incentives, subsidies, tradable permits and green taxes. The economic instruments lower the cost. They are flexible and stimulate innovation for the companies and consumers that are following greener approach for running the business.
  • Carbon taxation: The government is using the Carbon tax in order to curb the growing limit of carbon level in the air. This will help the nation to help in bringing down the temperature limit to 3° C or cutting it down to 50%.
  • Following new approach: The Canadian Minister has appealed to nations across the globe to join hands in order to lower down the greenhouse gases and carbon level present in the air. The country has asked the representatives of other nations to form a mitigation policy and strategies so that the dangerous situation can be put under the control.

To conclude, the environmental taxation policies will support the Canadian government to bring down the level of pollution prevalent in the atmosphere. This will also lead to the reduction in usage of pollutants in the industries. The taxation will further keep away the people from buying products that cause pollution because of taxation effect.