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Reporter: "How does carbon pricing mitigate the impact on the Environment" Guilbeault: "Carbon tax will take a long time (to work) probably around 2060, that's the kind of timeframe we are looking at to tackle an issue like climate change, maybe even longer." 🤡 #cdnpoli

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Carbon credits are a key component of national and global attempts to mitigate the growth in concentrations of greenhouse gasses (GHGs). The basic idea behind carbon credits is to use market mechanisms to control emissions. Carbon credits can be bought and sold on carbon markets, and this trading helps to set a price on carbon. The carbon credit system was established under the Kyoto Protocol and is now a key component of many emissions trading schemes around the world. By putting a price on carbon, the system aims to encourage the transition to a low-carbon economy and help mitigate the impacts of climate change, effectively making it more expensive to pollute. #SaveSoil
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