In mid-July, Canada’s Prime Minister, Justin Trudeau, and Minister for Environment and Climate Change, Catherine McKenna, stated in interviews with the Canadian Broadcasting Corporation and Bloomberg TV Canada respectively, that Canada will implement a national carbon price by the end of 2016. The federal government will release an emissions reduction plan later this fall, which could contain more details as to how such a national price would look like, as well as possible details on standardized emissions disclosure requirements for companies.

Following the election of the Liberal party at the end of 2015, both Justin Trudeau and Catherine McKenna have held a series of meetings with provincial leaders in order to reach a deal on a national carbon price. It is currently unclear what such a national price would look like, particularly given the diverse carbon pricing approaches currently operating on a provincial level. This ranges from emissions trading systems, such as the Québec and upcoming Ontario program, to carbon taxes in British Columbia.