Canadian Climate Institute congratulates Prime Minister Mark Carney and his newly elected government

Statement by Rick Smith, President of the Canadian Climate Institute, on the results of the 2025 federal election.

29.04.25

TORONTO—Rick Smith, President of the Canadian Climate Institute, issued the following statement on the results of the 2025 federal election:

“The Canadian Climate Institute congratulates Mark Carney and the Liberal Party of Canada on their success in the federal election. The Institute looks forward to working with the Carney government on policy solutions that will enhance Canada’s sovereignty and energy security, while also reducing emissions, enabling low-carbon economic growth, and building more resilient homes and infrastructure.

“Accelerating Canada’s progress on climate change is an economic imperative in this time of global economic upheaval and uncertainty. Canada has an opportunity to act on climate change in ways that grow our economy and support Canadian innovation, invest in our communities, capitalize on our competitive advantages, and expand our trade horizons. Faced with ongoing aggression from the U.S. and efforts to hobble U.S. clean energy innovation and climate research, implementing cost-effective, Canadian-made climate solutions are an important tool to support Canadian workers, protect communities, and strengthen our economy.

“We urge the new federal government to act swiftly to strengthen industrial carbon pricing, implement methane regulations for the oil and gas sector, enact Canada’s Clean Electricity Tax Credit, and establish a made-in-Canada climate taxonomy for Canada’s financial sector. Decisive action on these priorities will accelerate low-carbon growth while enhancing Canada’s competitiveness and economic resilience.

“Although the costs of climate-related damages are already driving up the cost of living for Canadians, our homes, communities and businesses are ill-equipped for a future of increasingly extreme weather. Smart action to address climate-related threats can help limit future damages, while keeping the cost of living down and supporting jobs and economic diversification.

“The Institute’s research has found that climate change-related damages in 2025 could already be worth half a year of Canada’s economic growth. Meanwhile, despite the Trump Administration’s efforts to block investments in clean energy and innovation, the costs of low-carbon technologies continue to decline, and over 40 per cent of global electricity generation was produced by non-emitting sources last year. For Canada, acting now to limit damage from climate change and capitalize on the global energy transition represents a generational opportunity we can’t afford to pass up.”

-30-

The Canadian Climate Institute is Canada’s leading climate change policy research organization. We produce rigorous analysis, economic modelling, and in-depth research, and have experts available to comment on topics including: carbon pricing, the costs of climate-related disasters in Canada, and Canada’s progress in reducing emissions, and policy priorities for the incoming federal government.