A rising Canadian carbon tax, scheduled to jump more than four-fold by 2030, has triggered a campaign by fossil fuel industry heavyweights to turn the greenhouse gas (GHG) emissions penalty into commercial opportunities.

GHG Emissions

The efforts so far include TC Energy Corp., Pembina Pipeline Corp., Shell Canada Ltd., Canadian Imperial Bank of Commerce (CIBC), Sproule Associates, and the top five oilsands producers: Canadian Natural Resources Ltd., Cenovus Energy Corp., Imperial Oil Ltd., MEG Energy Corp., and Suncor Energy Inc.

The commercial environmental cleanup lineup formed since a spring verdict by the Supreme Court of Canada upheld federal government authority to levy a national carbon price that translates into personal and corporate taxes.

The verdict let the Liberal government...