VICTORIA - B.C.'s finance minister says her officials are looking at whether to introduce a carbon tax aimed at curbing greenhouse gas emissions.
Finance Minister Carole Taylor says her staff is considering several options to gauge the impact of carbon taxes on economies.
"We're looking at a carbon tax to see if it, in fact, would work,'' Taylor said.
"If it would have the desired effect on the economy and climate change, and if there are mitigation measures that you would have to bring in if you did bring in a carbon tax.''
Last month, a long list of professors from the province's four universities sent a letter to the finance minister urging her to look at the tax, saying it would be a more effective way to cut greenhouse gas emissions than the current proposal to introduce emission caps.
Taylor said the ministry is looking at examples of carbon taxes from around the world and effects that they have on their economies.
She noted Quebec introduced a carbon tax in its last budget, but said there's still a lot of work to do.
Economics and business professors, among others, from the University of British Columbia, Simon Fraser University, the University of Victoria and the University of Northern British Columbia wrote to Taylor recommending a revenue neutral carbon tax for the next budget.
"Your government identified action on global warming as a critical policy goal,'' they wrote. "We believe that a carbon tax is the most efficient and effective way to reach that goal.''
They argue the tax would encourage consumers to switch to more environmentally friendly fuels and would also entice manufacturers to find greener ways to produce.
"Right now, the prices of the good we buy don't fully capture the costs to the environment of making those goods.''
The letter also argues a carbon tax is better than regulatory caps on greenhouse gas emissions because it allows everyone -- citizens and businesses -- to adjust in ways that work for them.
"Regulatory mandates force a `one size fits all' approach, are likely more costly to administer and will always be one step behind in terms of the environmental technologies being applied.''
