Reaching net-zero emissions by 2050 will come at a steep price for the City of Moncton, but it could pay dividends for residents in the long term, according to a new report presented to council.
The community energy and emissions plan contains 31 action items that target transportation, buildings and waste among other things.
Council voted to adopt in principle and asked the administration to undertake further financial analysis and return to council.
Actions include:
-Develop and implement a strategy to ensure all new buildings in the community are built to “net-zero energy” standards by 2030
-Work with Codiac Transpo, Riverview and Dieppe to decarbonize the transit fleet, and expand and improve transit service to increase the proportion of trips taken by transit
-Establish a city-wide parking surcharge on internal combustion engine vehicles to expedite the shift to electric vehicles.
-Partner with Eco360 to develop and implement a “Zero Waste by 2050” plan to divert 100% of Moncton’s waste from the landfill.
It’s estimated the cost to complete the actions and achieve net-zero emissions by 2050 would be an estimated $4.7 billion. That figure factors in the costs for businesses, residents and other levels of government.
However, the report states the investment would generate about $7 billion by reducing energy and carbon tax costs.
