CBC is reporting that unless Canada started to think about greenhouse gas emissions in economic terms, Canada could experience “serious economic dislocation,” an Environment Canada-sponsored report warned Wednesday.

The report, published by NRTEE, strongly urged Ottawa to start mapping out a plan for charging for emissions.

“If the government neglects to clearly communicate the [greenhouse gas] price schedule well in advance, it risks causing serious economic dislocation…because society’s capital stocks will not be well prepared,” the report warns.

“In essence, inadequate and delayed communication by the government of a [greenhouse gas] ‘price’ could lead to substantial long-term economic costs.”

“Act strongly now [and] you’re going to really not suffer economically, but if you don’t do that, the risk of the damage to the economy of not acting with some [emissions] pricing system of some sort is very real,” NRTEE spokesperson Glen Murray said today.

“You have to have enough advance warning, years of lead time so the industry can adjust and retool.”

The report suggested that Canada needs to cut their emissions by 60% by the year 2050.

via cbc