Tax AND trade in British Columbia

British Columbia has announced a cap and trade system aimed at reducing GHG emissions from the large final emitters. Details are still in the works. The Globe and Mail reports that some industries have already expressed concern.

The province's philosophy is sensible. Rather than get mired in the ongoing tax vs. cap-and-trade debate, try 'em both. The policies are by no means mutually exclusive: the tax will address consumers and the cap-and-trade system will address industry. Done well, the two pronged approach could be more equitable and more effective than many other proposed policies.