Deloitte was retained to prepare a comparative assessment of the ‘low-carbon’ performance of Canada relative to other G8 countries, China, Australia and Norway. The objective of the benchmarking exercise was to understand Canada’s position relative to other comparator countries in areas deemed important to Canada’s national ability to compete and succeed in a global low-carbon economy. This report describes the approach undertaken by Deloitte to design and execute the benchmarking study, and presents the preliminary findings. Indicator definitions and draft scoring results for three weighting scenarios are provided as companion files to this document. The electronic database containing source data, formulas and scoring results is also provided as a companion file to this document.
In April 2003, the National Roundtable on the Environment and the Economy (NRTEE) launched Phase II of its Ecological Fiscal Reform (EFR) program. The objective of Phase II is to “develop and promote fiscal policy that consistently and systematically reduces energy-based carbon emissions in Canada, both in absolute terms and as a ratio of GDP, without increasing other pollutants”. This report provides a qualitative analysis the possible macroeconomic impacts of fiscal policies arising out of three case studies prepared for the NRTEE seeking to promote long-term “decarbonisation” through increased use of hydrogen, energy efficiency and renewable power. The findings of this study will be incorporated into the NRTEE’s final State of the Debate report.
Canada lags the leading G8 nations, in particular the large European countries. France, Germany and the United Kingdom are best positioned to harness the potential of a low carbon transition. Canada lags the leaders by a significant overall margin, but does score well in a few select performance areas. Canada is at an inflection point – it needs to adopt a bold vision of its low-carbon future and to define a comprehensive strategy. There can be no cookie-cutter approach to achieving success across the identified areas of low-carbon performance. Canada will need to design its own path, blending policy drivers with action from business and other actors.