Climate action is critical to building a strong, secure economy

Statement on climate and energy priorities in today’s Speech from the Throne.

27.05.25

OTTAWA—Rick Smith, President of the Canadian Climate Institute, issued the following statement in response to today’s Speech from the Throne, delivered by His Majesty King Charles III on behalf of the government of Prime Minister Mark Carney:

“Today’s Speech from the Throne underscored the Carney government’s commitments to prioritize measures that build Canada’s economy, diversify trading relationships, and fight climate change. The Canadian Climate Institute applauds the government’s focus on expediting nation-building projects and infrastructure, working to make Canada a clean energy superpower and a world-leading hub for science and innovation, and ensuring new homes are both affordable and resilient.

“Any robust economic strategy must include effective action to fight climate change, make life more affordable, and invest in low-carbon innovation. To deliver on the economy-building commitments outlined in the Throne Speech, we urge the federal government to act decisively on five specific, critical priorities: strengthening industrial carbon pricing systems, finalizing methane regulations for the oil and gas sector, enacting Canada’s Clean Electricity Tax Credit, establishing a made-in-Canada climate taxonomy for Canada’s financial sector, and applying clear flood and fire resilience criteria for federally supported housing.

“Climate change is already making life in Canada less affordable. Climate-related damages increase the average household’s cost of living by more than $700 each year, in the form of higher grocery bills due to supply-chain disruptions, rising home insurance premiums, and tax hikes to pay for disaster recovery and infrastructure repairs. Building a strong and resilient Canadian economy requires limiting the costs of climate change by protecting homes and communities, while also moving swiftly on policy solutions that reduce emissions and spur innovation.

“As His Majesty King Charles III stated in the Speech from the Throne, speed is of the essence. Acting swiftly on these policy priorities will strengthen Canada’s competitive advantage in an increasingly unpredictable global economy, while enhancing Canadian sovereignty, resilience and energy security.”

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