Collision of financial budget and carbon budget approaches
By
Karen Unland
Edmonton is blazing a trail when it comes to incorporating a carbon budget into its decision-making, but a lot of things still have to be figured out when it comes to applying the concept during this year's crucial budget deliberations.
As city council sets its four-year financial budget this fall, it also has to take into account the implications of its decisions on its ability to stay within a carbon budget of 135 megatonnes as of 2050, as well as its ability to achieve interim goals to decrease community-based net greenhouse gas emissions by 35% by 2025 and by 50% by 2030, compared with 2005 levels.
How that happens is still a work in progress, said Harmalkit Rai, the city's deputy city treasurer and branch manager of financial services, on Episode 185 of Speaking Municipally, Taproot's civic affairs podcast.
"There will be an annual reporting-back mechanism, most likely in the fall, where we're going to be showing council (where) they are in terms of tracking towards their carbon targets," Rai said. "It's yet to be seen how we adapt our decision-making process and what kind of accountability we build into this process."
To live up to the Community Energy Transition Strategy, Edmonton will need to spend about $100 million annually on capital infrastructure and catalyst investments to decrease emissions across the board. That is not currently budgeted for but will be up for discussion as part of the 2023-26 budget.
"There's stuff that's already doing, but there will be a lot more we'll have to discuss as a part of the budget deliberations in terms of investments to achieve these targets," Rai said, encouraging Edmontonians to participate in the city's budget engagement, which is gathering feedback until July 17.