Closing Federal Corporate Tax Loopholes to Fund Climate-Related Adaptation and Mitigation

Whereas local governments are incurring substantial costs in relation to the impacts of climate change, including volatile weather patterns, droughts, wildfires, erosion and other impacts and such costs are anticipated to continue rising; And whereas 2019 reports indicate that many corporations are not paying between 24 to 29 percent of legally owed federal taxes; Therefore be it resolved that UBCM strongly encourage the Canadian Government to implement measures to close corporate tax loopholes and collect owed corporate taxes in order that such funds be directed to local governments and Indigenous communities, in order to pay for climate change adaptation, mitigation, and resilience measures.