17.3 The Challenge of Global Climate
Change LO 4
There is a clear scientific consensus that the burning of fossil fuels is
adding to the atmospheric concentration of greenhouse gases (GHGs)
and leading to increases in average global temperatures.
Global emissions of GHGs can be reduced by reducing global GDP,
by reducing the energy intensity of GDP, or by reducing the GHG
intensity of the world’s energy.
Significant reductions in world GHG emissions will likely require
dramatic reductions in the GHG intensity of energy.
Most economists agree that an effective policy for reducing GHG
emissions must involve placing a price on GHG emissions. Either an
emissions tax or a cap-and-trade system could be effective.
By 2019 a price on GHG emissions will apply in every province and
territory in Canada.