Canada is at a key moment in its fight against climate change. Carbon pricing has been the central tool used to cut emissions, but recent policy changes and differences across provinces have created uncertainty.

This article examines how Canada’s carbon pricing system works now. It covers expert concerns and what the key federal review in 2026 might mean for both industry and the country’s journey toward a lower-carbon future.

How Canada Prices Pollution

Canada uses carbon pricing to encourage companies and people to cut greenhouse gas (GHG) emissions. Under that system, there are two main parts.

For ordinary people and small businesses, there used to be a “fuel charge” or carbon tax on fossil fuels. For large industrial emitters, there is a program called the Output-Based Pricing System (OBPS).

Under the OBPS, factories or facilities that produce a lot of emissions get a limit based on how much they produce. If they emit more than their limit, they must pay; if they emit less, they earn credits that they can sell or use later.

This approach aims to reduce carbon pollution while trying to protect industries that compete globally. The goal is to cancel out the risk that companies might move to other countries with weaker climate rules.

From Gas Pumps to Smokestacks: A Major Policy Shift

In 2025, the federal government made important changes. It removed the “consumer-facing” carbon tax — the fuel charge — effective April 1, 2025. This means people pay no extra carbon tax when buying gasoline or heating fuel.

Instead, the focus shifted more clearly onto industrial carbon pricing. The government said it would review the carbon pricing “benchmark” in 2026. This review could change how industrial carbon pricing operates.

A recent analysis by ClearBlue Markets shows that Canada’s carbon pricing for industry is now fragmented. Fragmentation has caused uncertainty. This is a problem for companies that need stable cost signals before they invest in cleaner technology.

The ClearBlue report stated:

“The federal benchmark review will therefore trigger extensive engagement between the federal government and the provinces, aimed at aligning key benchmark elements such as coverage, pricing stringency, and competitiveness protections. Negotiations are likely to be complex and politically charged, particularly with provinces like Alberta and Saskatchewan, which have already taken strong positions. These types of unilateral decisions reflect ongoing tensions and highlight the difficulty of achieving a truly aligned national approach.”

Carbon pricing today: A patchwork across Canada

Because Canada is large and its provinces have different rules, carbon pricing for industry is not the same everywhere. ClearBlue Markets shows that credit prices—what companies pay or earn—vary a lot by province or system.

Here are specific examples:

In Alberta, the Environmental Monitoring, Evaluation and Reporting Agency has seen a big drop in credits under its Technology Innovation and Emissions Reduction Program (TIER). Despite a compliance price of CAD 95 per tonne, market credits trade at around CAD 18 per tonne. This shows a credit surplus and weak demand.

In British Columbia (B.C.), the new B.C. Output-Based Pricing System (B.C. OBPS) began to be applied recently. Credits are trading at about CAD 65 per tonne, a discount compared with the regulatory level of CAD 80.

In Ontario, the Emissions Performance Standards (EPS) system governs industrial emissions. Because the program does not allow offset credits, supply is tighter — units (EPUs) recently traded at around CAD 72 per tonne.

In areas where the federal OBPS still applies, like some territories and small provinces, cheap carbon offset credits from Alberta’s TIER have lowered prices. Now, they can be as low as about CAD 37.50 per tonne.

The true cost of carbon emissions differs greatly by industry and province. The federal government aims to raise the carbon price to CAD 170 per tonne by 2030 for direct pricing systems.

• SEE MORE: Mark Carney’s Climate Strategy: Balancing Carbon Policy, Trade, and Energy Security

The 2026 Showdown: Can Canada Fix Its Carbon Market?

The upcoming review of the federal benchmark is seen as a turning point. It could lead to stronger, more aligned carbon pricing across all provinces. As ClearBlue Markets notes, the review may address issues such as:

• Align different provincial systems under a common design. This way, credits and compliance will act more alike.
• Improving transparency in reporting credit inventories, trades, and emission reductions.
• Possibly introducing a “floor price” — a minimum cost for carbon credits — to avoid extreme price drops like those seen in some programs.
• Setting a long-term carbon price path past 2030 helps industries plan investments more clearly. This is especially important for clean technologies.

All of these could make carbon pricing more predictable and effective. If the review doesn’t meet expectations, patchwork and uncertainty may persist. This could weaken the carbon price signal and confuse investment in clean technology.

This patchwork of provincial and federal carbon pricing programs has created a corresponding patchwork of compliance offset markets. The image below shows how these offset markets are distributed across Canada.

Global Pressure Is Rising: Europe Could Hit Canada with Carbon Tariffs

One major external risk comes from the global trade environment. Starting in 2026, the European Union’s Carbon Border Adjustment Mechanism (CBAM) will impact imports based on their carbon emissions.

For Canadian exporters, this raises a key question:

• Will EU authorities accept the compliance credits or offsets generated under Canada’s various carbon pricing systems as evidence of “carbon price paid”?

If not, Canadian exports might face extra tariffs. This could double the carbon cost or hurt competitiveness.

This makes it even more important for Canada to standardize and strengthen its carbon pricing framework before 2026. This is to ensure that its pricing and credits are recognized internationally. Otherwise, Canadian industries like steel, aluminum, and cement might find it hard to compete. This is especially true in markets with strict climate-related import rules.

Strengths and Challenges of Canada’s Carbon Pricing

Carbon pricing works to link environmental costs with economic decision-making. For large emitters, it encourages improved efficiency. Carbon pricing revenue, especially from the OBPS, can fund clean energy projects. It also supports carbon capture and investments in low-carbon infrastructure.

A recent evaluation by the government highlights that industrial carbon pricing helps reduce emissions with minimal impact on households.

But there are major challenges too. The system varies by province, so many industries might have low carbon costs. This means there is little motivation for real change.

A 2022 report from the Office of the Auditor General of Canada (OAG) found that weak rules in provincial large-emitter programs lower the impact of carbon pricing. Also, the unclear use of carbon revenues and the long-term price outlook have made some firms hesitant to invest in cleaner technologies.

The Stakes: Canada’s Climate Credibility and Industrial Future

The 2026 benchmark review could reshape Canada’s carbon pricing for decades. Key signs to watch are:

• Whether the government sets a new, clear carbon price path beyond 2030 — possibly up to 2050, that would give firms confidence to invest in long-term clean solutions.
• Whether provincial carbon pricing systems become more harmonized. This means similar rules, credit prices, and transparency everywhere.
• Introducing a price floor or other methods can help prevent deeply discounted carbon credits. This ensures a strong carbon price signal.
• Will Canadian industrial credits and compliance be set up to gain recognition under global systems like CBAM? This could help keep Canadian exports competitive.

Canada’s carbon pricing, especially for industry, is at a crossroads. The removal of the consumer carbon tax in 2025 reflects a shift toward focusing on industrial emissions. Meanwhile, the upcoming 2026 benchmark review offers a chance to make this system stronger, fairer, and more predictable.

However, much depends on political and regulatory will. Without clear pricing, rules, and long-term certainty, the carbon price might be too weak. This puts Canada’s climate goals and global competitiveness at risk. But if the government and provinces act quickly, carbon pricing can help Canada shift to a low-carbon economy while also keeping industries competitive.

• MUST READ: Canada Goes Nuclear Again: This Time It’s a C$3 Billion Bet on SMR

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Walmart (NYSE: WMT) is stepping up its clean energy and emissions game across the United States. Shoppers want to save money and live more sustainable lives, and Walmart sees a big role for itself in that shift. With a store or club within 10 miles of nearly 90% of Americans, the retailer believes it is perfectly placed to support the country’s move to cleaner transportation.

From expanding EV charging access to using more renewable power and electrifying its delivery fleet, Walmart is building a lower-carbon future that also brings long-term savings and stronger resilience.

Charging Up America: Walmart’s Big EV Push

Walmart wants to make owning an electric car easier for millions of people. The company plans to build its own fast-charging network across thousands of Walmart and Sam’s Club locations by 2030. This will add to the nearly 1,300 chargers already running at more than 280 stores today.

The goal is simple: remove the fear of not finding a safe and reliable place to charge. Walmart’s well-lit parking lots offer an easy place to plug in while customers shop, grab groceries, or pick up essentials. And in true Walmart style, the company aims to offer low-cost charging to help families save on transportation—the second-largest expense for most households.

Greener Deliveries and Next-Gen Fleet

Transportation is one of Walmart’s toughest emissions issues. In 2024, the company’s fleet made up 24.9% of Scope 1 emissions and 14.4% of total operational emissions. As Walmart brings more logistics in-house and grows its business, fleet emissions may rise in the short term.

Yet Walmart is preparing for a cleaner future. It’s partnering with GM, Ford, and Canoo to electrify delivery vehicles. Many Walmart+ deliveries already use electric vans.

• They are also testing heavy-duty battery trucks, hydrogen fuel cell vehicles, and renewable diesel.
• Walmart is rolling out liquid hydrogen-powered forklifts and recently opened Latin America’s first industrial-scale renewable hydrogen plant in Chile.
• Electric yard trucks are already delivering major gains—cutting emissions by more than 75% per hour compared to diesel models.

These tests matter. They help shape the future of Walmart’s fleet, especially as long-haul truck solutions may not mature until the 2030s.

As more drivers go electric, the re network will add much-needed charging options nationwide. Even rural areas, which often lack EV infrastructure, will benefit. Walmart sees this as a smart business move and a natural extension of its mission to help customers live better and more sustainably.

• READ MORE: EV Boom Pushes U.S. Clean Energy Investment to New High: $75B in Q3

Smart Stores with Clean Energy

Walmart’s clean energy plan centers on four ideas: access, cost, resilience, and emissions cuts. Because its stores rely more than ever on electricity and digital systems, stable power is essential. So Walmart is investing in new technology to identify power risks, upgrade monitoring tools, and strengthen connections to the grid.

Real-time energy monitoring across thousands of facilities helps Walmart track usage and operate more efficiently. These insights will matter even more as automation grows across the company’s operations.

Walmart is also adding more on-site power. Solar panels, wind systems, and battery storage help stores stay open during outages and lower long-term energy bills. Between 2024 and 2030, it aims to support up to 10 gigawatts of new clean energy capacity.

The company is already making progress. In 2024, renewable energy met 48.5% of Walmart’s global electricity needs. This brings the retailer close to its goal of 50% renewable power by 2025 and puts it on track for 100% by 2035. By the end of 2024, its U.S. operations had 166 MW of onsite solar across 325 facilities and 10 MW of energy storage at 44 locations.

Achieving Net-Zero Emissions

Walmart is working toward zero emissions across its global operations (Scope 1 and 2) by 2040. These emissions come from transport fuels, refrigeration, heating, and electricity use.

The company has reduced its emissions intensity by 47.4% since 2015, but annual emissions can still vary. In 2024, Walmart’s Scope 1 and 2 emissions rose by 1.1%. Growth in U.S. transportation and lower renewable energy output in Mexico and Central America—due to extreme heat and drought—played a big role.

Still, global operational emissions remain 18.1% lower than the 2015 baseline. But progress won’t always be smooth. Policies, infrastructure limits, equipment shortages, and slow advances in low-carbon trucking technology create challenges. Walmart has noted that meeting its 2025 and 2030 targets may take more time.

Even so, Walmart keeps improving. New buildings and remodels use efficient lighting, HVAC systems, and refrigeration. The company is replacing older equipment with high-efficiency models and testing refrigeration and HVAC systems with lower global warming impact. These upgrades support both sustainability and cost savings.

Walmart (WMT) Q3 FY2025 Highlights

Walmart Inc. posted Q3 FY2025 revenue of $179.5 billion, up 5.8% from last year and beating estimates by 1.1%. Same-store sales rose 4.5%, fueled by strong e-commerce and retail growth, with adjusted EPS at $0.62—above expectations. The company raised its full-year sales outlook amid steady demand and efficiency gains.​

Additionally, WMT stock hit near-record highs but with a “Moderate Buy” rating from analysts, targeting 6-9% upside. Growth drivers include e-commerce, consumer resilience, and clean energy bets like EV fleets and chargers.

The goals are bold: zero operational emissions by 2040 and 100% renewable power by 2035. Yet Walmart’s scale, resources, and willingness to innovate give it a powerful role in America’s clean energy transition. And ultimately, these steps help customers live better, save more, and make sustainable choices that fit their everyday lives.

• FURTHER READING: Why Walmart Stock (WMT) Is at the Forefront of ESG Investing: Sustainability and Emissions Achievements in 2025 

The post Walmart (WMT) Expands EV Charging and Boosts Renewable Energy in Its Net-Zero Playbook appeared first on Carbon Credits.

Disseminated on behalf of Sierra Madre Gold & Silver Ltd.

Mexico has been a cornerstone of global silver and gold production for centuries, with historic mining regions such as Zacatecas, Durango, and the Sierra Madre belt supplying the world with these precious metals. Mining represents nearly 2.5% of Mexico’s GDP and produces significant export revenue.

However, decades of underinvestment and declining output from aging mines led to a slowdown in production growth. Today, a new wave of modern mining companies is reinvigorating Mexico’s silver and gold industry, bringing capital, modern technology, and strict environmental practices to historic mining regions.

Among these companies, Sierra Madre Gold & Silver Ltd. (TSXV: SM | OTCQX: SMDRF) is emerging as a standout player, spearheading the revival of Mexico’s rich Temascaltepec district with its La Guitarra Mine.

Mexico’s Silver and Gold Renaissance: Strategic Importance

Mexico remains the world’s largest silver producer, contributing roughly 23–25% of global output in 2024, with total production between 5,800 and 6,300 tonnes. The surge in industrial demand for silver is reshaping its role from primarily a jewelry and investment metal to an essential material in the clean energy transition.

• With silver prices stabilizing around US$28 per ounce in 2025 and climbing above $50 in October, mid-tier producers like Sierra Madre stand to increase shareholder value while supporting rural economies.

Each solar panel consumes about 20 grams of silver, while electric vehicles require up to 50 grams. Analysts predict that by 2030, global silver demand will exceed 1.2 billion ounces annually, highlighting the need for stable, modern supply sources.

Mexico’s combination of skilled workforce, supportive regulations, and modern infrastructure makes it an attractive destination for exploration and investment. Sierra Madre’s work at La Guitarra, along with exploration at Tepic, exemplifies how new companies are turning dormant assets into engines of growth for the next decade.

Reviving La Guitarra: History Meets Modern Mining

The La Guitarra Mine has a storied history dating back to colonial times, producing both gold and silver under different owners, most recently First Majestic Silver. After a period of care and maintenance, Sierra Madre acquired the mine in 2023 with a clear strategy: restart production (achieved January 2025) and expand output.

The mine comes equipped with a 500-tonnes-per-day processing plant, permitted underground workings, and nearby infrastructure including roads, water, and power. With C$19.5 million in fresh capital and a skilled technical team, it has achieved a full-scale restart, with commercial production announced in January 2025.

• By 2027, the company aims to up to triple production to 1,500 tonnes per day, leveraging smart mine design and local partnerships to keep costs low while ramping output efficiently.

Furthermore, their leadership blends local mining expertise with strong capital markets knowledge, enabling efficient project execution. La Guitarra’s high-grade veins, clear exploration targets, and straightforward permitting process make it one of Mexico’s most promising silver-gold projects.

• READ MORE: Silver’s New Role in the Clean Energy Era – and What It Means for Sierra Madre Investors

Commitment to Responsible Mining

Sierra Madre embodies a new generation of environmentally and socially responsible miners. The company is upgrading waste and water systems to modern standards, reclaiming tailings efficiently, and minimizing water usage. Open communication with local communities, clear permitting, and strong ESG practices reinforce its credibility with stakeholders and investors.

Modernization at La Guitarra is as much about responsible operations as it is about increasing output. This focus on sustainability aligns with global investor expectations while strengthening its long-term partnerships.

Sierra Madre holds one other project in Mexico’s Sierra Madre mineral belt:

• Tepic Project (Nayarit): High-grade epithermal gold-silver deposit with near-surface mineralization and strong exploration upside.

By focusing on assets with existing infrastructure and clear development paths, Sierra Madre reduces operational risk compared with early-stage exploration projects.

Industrial Demand Drives Silver’s Strategic Role

Silver’s function has evolved beyond traditional uses. Its high conductivity and reflectivity make it essential in solar panels, EV batteries, 5G networks, and electronics. Industrial demand is rising sharply: in 2024, industrial silver consumption reached 680.5 million ounces, accounting for over 30% of total usage, and solar energy alone represents a growing share.

The EV market further drives demand, with each vehicle requiring up to 50 grams of silver. Rising industrial requirements, combined with structural supply deficits, position companies like Sierra Madre to benefit from near-term production growth.

Global silver production is struggling to keep pace. In 2024, total output was roughly 819.7 million ounces, barely a 1% increase over the previous year. A projected 117.6 million-ounce supply deficit in 2025 underscores the need for reliable producers in Mexico’s rich silver belt.

Leveraging Gold’s Enduring Value in a Record-Price Era

Gold remains a cornerstone of stability. Prices are expected to hold above US$3,000 per ounce, supported by investment demand, central bank buying, and geopolitical uncertainty. In Q2 2025, total gold demand rose 3% year-over-year, reaching 1,249 tonnes, while mine production matched this growth, reflecting a healthy market balance.

At La Guitarra, underground mining at the high-grade Coloso vein started in April 2025, increasing production potential and improving grades. The company is upgrading milling systems to improve recovery rates and lower costs, capitalizing on record-high gold prices.

Strong Operational and Financial Performance

• In Q2 2025, Sierra Madre sold 173,562 silver-equivalent ounces: 66,011 ounces of silver and 1,048 ounces of gold, generating 168,535 AgEq ounces at an average price of US$30.10 per AgEq ounce.

The Coloso Mine is ramping up to 150 t/d by year-end, while underground development at the Nazareno Mine has already delivered over 700 tonnes of mineralized material to the Guitarra mill, with grades exceeding prior estimates.

The company raised C$19.5 million in mid-2025 to expand throughput, launch a +20,000-meter exploration program across its mineralized belt, and target high-grade zones in the East District. Strong revenue, cash position, and working capital support ongoing operations and exploration, providing a solid financial foundation for growth.

Silver continues to show upside potential. With a gold-to-silver ratio of 70:1, silver is currently undervalued relative to gold. Combined with rising industrial demand and tight supply, this positions Sierra Madre’s dual-metal strategy to capitalize on both growth and stability. Analysts project that silver deficits will persist, reinforcing the value of near-term production assets like La Guitarra.

• ALSO READ: Gold’s Enduring Value: How Sierra Madre Is Advancing Mexico’s Next Generation of Gold Projects

Two Metals, One Growth Strategy

Sierra Madre’s dual-metal approach combines gold’s stability with silver’s growth potential. Gold anchors financial security, while silver leverages rising industrial demand. This strategy enables the company to maximize shareholder value while maintaining operational resilience.

Phased Expansion Plan

Sierra Madre is executing a two-phase expansion at La Guitarra:

• Phase 1 (Q2 2026): Increase capacity to 750–800 t/d with equipment upgrades, including a new cone crusher and ball mill.
• Phase 2 (Q3 2027): Ramp up to 1,200–1,500 t/d with additional crushing circuits, producing finer material and improving recovery rates.

No additional permits are required, and the expansion will be fully funded from existing cash flow, ensuring self-sustained growth.

Final Take: Why Sierra Madre Is Poised to Deliver Silver and Gold

Sierra Madre Gold & Silver is at the forefront of Mexico’s silver and gold revival. With a mix of production-ready assets, exploration upside, and strong financial backing, the company is well-positioned to benefit from rising demand, structural supply deficits, and supportive market dynamics.

La Guitarra combines history, infrastructure, and timing for near-term production, while Tepic offers significant exploration potential. Sierra Madre’s dual-metal strategy balances stability with growth, leveraging gold’s safe-haven value and silver’s industrial demand.

As global demand for clean energy technologies, electric vehicles, and industrial applications rises, Sierra Madre is uniquely equipped to deliver both silver and gold. Its operational asset, responsible mining practices, and strategic expansion plan position it as a leading junior miner in Mexico’s most productive silver-gold belt.

In short, Sierra Madre has not just restarted a mine—it is breathing new life into Mexico’s historic silver and gold heartland while positioning investors to benefit from a transformative decade in precious metals.

• MUST READ: Reviving Mexico’s Silver Belt: How Sierra Madre’s La Guitarra Mine Is Leading the Comeback

DISCLAIMER

New Era Publishing Inc. and/or CarbonCredits.com (“We” or “Us”) are not securities dealers or brokers, investment advisers, or financial advisers, and you should not rely on the information herein as investment advice. Sierra Madre Gold and Silver Ltd. (“Company”) made a one-time payment of $25,000 to provide marketing services for a term of one month. None of the owners, members, directors, or employees of New Era Publishing Inc. and/or CarbonCredits.com currently hold, or have any beneficial ownership in, any shares, stocks, or options of the companies mentioned.

This article is informational only and is solely for use by prospective investors in determining whether to seek additional information. It does not constitute an offer to sell or a solicitation of an offer to buy any securities. Examples that we provide of share price increases pertaining to a particular issuer from one referenced date to another represent arbitrarily chosen time periods and are no indication whatsoever of future stock prices for that issuer and are of no predictive value.

Our stock profiles are intended to highlight certain companies for your further investigation; they are not stock recommendations or an offer or sale of the referenced securities. The securities issued by the companies we profile should be considered high-risk; if you do invest despite these warnings, you may lose your entire investment. Please do your own research before investing, including reviewing the companies’ SEDAR+ and SEC filings, press releases, and risk disclosures.

It is our policy that information contained in this profile was provided by the company, extracted from SEDAR+ and SEC filings, company websites, and other publicly available sources. We believe the sources and information are accurate and reliable but we cannot guarantee them.

CAUTIONARY STATEMENT AND FORWARD-LOOKING INFORMATION

Certain statements contained in this news release may constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking information generally can be identified by words such as “anticipate,” “expect,” “estimate,” “forecast,” “plan,” and similar expressions suggesting future outcomes or events. Forward-looking information is based on current expectations of management; however, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from those anticipated.

These factors include, without limitation, statements relating to the Company’s exploration and development plans, the potential of its mineral projects, financing activities, regulatory approvals, market conditions, and future objectives. Forward-looking information involves numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking information. These risks and uncertainties include, among other things, market volatility, the state of financial markets for the Company’s securities, fluctuations in commodity prices, operational challenges, and changes in business plans.

Forward-looking information is based on several key expectations and assumptions, including, without limitation, that the Company will continue with its stated business objectives and will be able to raise additional capital as required. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended.

There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially. Accordingly, readers should not place undue reliance on forward-looking information. Additional information about risks and uncertainties is contained in the Company’s management’s discussion and analysis and annual information form for the year ended December 31, 2024, copies of which are available on SEDAR+ at www.sedarplus.ca.

The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. Forward-looking information reflects management’s current beliefs and is based on information currently available to the Company. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to update or revise such information to reflect new events or circumstances except as may be required by applicable law.

For more information on the Company, investors should review the Company’s continuous disclosure filings available on SEDAR+ at www.sedarplus.ca.

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