By Canadian Press

Feds ask banks to help make carbon-price rebate deposits more clear

Oct 17, 2022 | 9:45 AM

OTTAWA — Environment Minister Steven Guilbeault says there is more work to do with banks after another round of carbon-price rebates went out to Canadians without making it clear why they were receiving the money.

The rebates go to people in the prairie provinces and Ontario, where the federal consumer carbon price is charged because there is no comparable provincial version.

Ottawa is trying to make the rebates more visible by sending them directly to people every three months rather than incorporating them into annual tax refunds.

But when the first new deposits went out in July, most financial institutions dropped them into accounts with labels like “Canada Fed” or “EFT Credit Canada.”

After getting complaints and a lot of questions from the public, the federal government this time asked banks to specifically label the deposits as “Climate Action Incentive” but not all of them made the change.

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Guilbeault says it is “crucially important” that Canadians are clearly informed about the rebates so they fully understand the carbon-pricing system and how it affects them.

This report by The Canadian Press was first published Oct. 17, 2022.

The Canadian Press