CLIMATE ACTION IN BRITISH COLUMBIA CLIMATE ACTION IN BRITISH COLUMBIA

British Columbias Legislated Targets Reducing BCs GHG emissions by at least 33% below 2007 levels by 2020 and at least 80% below by 2050

Acting in Every Sector Government is taking focused action

5 Key Strategies 1. Regulation2. Fiscal measures 3. Market mechanisms 4. Support for technology 5. Behaviour change

Reaching our Targets Energy Plan Tailpipe StandardLow Carbon Fuel Cap and tradeLandfill Gas Utilities Commission Green Communities Carbon Tax Act Through significant pieces of climate action legislation

Revenue-Neutral Carbon Tax Returns every dollar collected back to taxpayers Rewards green choices

New Pollution Tax on Carbon Emissions $/tonne of carbon dioxide equivalent emissions Tax cuts, funded by an innovative tax on pollution

New Pollution Tax on Carbon Emissions Personal income tax reductions Low income climate action tax credit Corporate income tax reductions Small business corporate income tax reductions 2008/09 through 2010/11; $ millions 1,849 Carbon tax revenues Tax reductions Every dollar raised by carbon tax is returned to taxpayers by law

Carbon Emissions Tax Personal income taxes reduced by an average of 5% for all British Columbians of the first $70,000 of earnings by 2009, with further reductions by Lower income Climate Action Credit: $100 per adult and $30 per child per year, rising by 5% in 2009 Corporate income tax reduced to 11% from 12% expected to fall to 10% by 2011 Small business corporate income tax rate reduced from 4.5% to 3.5%, expected to fall to 2.5% by /09 through 2010/11; $ millions $1,849M $255M $415M $395M $784M

CLIMATE ACTION IN BRITISH COLUMBIA CLIMATE ACTION IN BRITISH COLUMBIA