It is a tax.  Not complicated, not useful.  
There are other ways to impact climate change.  This is the worst approach.
Canada has 35 million people , not much with over 7 Billion people on the planet.
Canadians are NOT the problem, and we can  NOT affect pollution control,  and our example will have no effect.  Small population, large land mass. 
IF we could stop forest fires................. that would help.
If  volcanoes could be controlled, ...... that would help..... a lot.
If...  we could stop the rape and pillage of the world's Rain Forests, ...that would help... a lot.
Taxing Canadians in to poverty, will not help........ anyone.