OTTAWA (August 6, 2019) – CME submitted August 2nd its pre-budget consultations submission to the House of Commons Standing Committee on Finance (FINA). Aligned with the Committee’s focus on climate change and the transition to a low-carbon, CME proposed 9 recommendations to balance the environment and the economy. CME believes that future action on reducing GHG emissions needs to reflect the following core statements:
- An uncompetitive business environment will drive investment out of Canada, hurting the economy, damaging our ability to generate innovative climate solutions, and resulting in higher global GHG emissions because of carbon leakage;
- Because of our relatively clean emissions profile, policies that result in more manufacturing activity in Canada and displace imports from high-polluting countries will contribute to a net reduction in global GHG emissions; and
- All carbon pricing revenues collected from manufacturers need to be recycled back into the sector to help spark investments in reducing its environmental footprint and in generating technology solutions to the climate challenge.
Canadian manufacturers are often global leaders in environmental performance, especially in producing goods at low levels of emissions intensity. For example, Canada’s steel industry has a carbon footprint 2-4 times lower than its international competitors – largely because much of the energy in Canadian steel production comes from non-emitting sources and companies have invested in the latest production technologies.
Canada cannot make a meaningful contribution to fighting climate change without the support of a thriving economy, including the energy sector itself. The wealth generated from strong economic growth is an essential resource to spark the investment and innovation needed to address this challenge.
ABOUT CANADIAN MANUFACTURERS & EXPORTERS
Canadian Manufacturers & Exporters (CME) advocates for and represents 2,500 leading manufacturers that operate across Canada. Manufacturing moves Canada and is the engine of the economy. Canadian manufacturers collectively employ 1.7 million Canadians and is responsible for two-thirds of Canada’s export sales. The sector is growing rapidly. In 2018, the sector reached a new all-time high of $685 billion in sales. CME advocates policies that will allow Canadian manufacturers to compete effectively in the global economy.
FOR MORE INFORMATION
Director of Communications
Canadian Manufacturers & Exporters
C: 613-292-6070 | firstname.lastname@example.org | @CME_MEC