Hiking the federal carbon price by $120 per tonne will get Canada most of the way to the Liberals’ climate targets but not all of it, the parliamentary budget office said Wednesday. Reducing emissions to 468 megatonnes by 2030 will also take regulatory measures equivalent to a further price of $91 a tonne. (The Logic)

Talking point: Canada’s emissions target under the Paris Agreement on climate change is 511 Mt by 2030, but the Liberal government says we’ll do 43 Mt better. Not easily, according to the PBO: it’ll take “substantial change,” with regulatory moves (such as clean-fuel standards) leading to a cut in real GDP of 1.4 per cent in 2030. Fighting climate change isn’t only about costs—Clean Energy Canada recently found that new jobs in the sector will outpace losses in fossil fuels by about 83,000 positions by 2030. And the PBO observes that climate change itself would be expensive, but unforeseen technologies could mitigate those costs.