Good evening, readers.

We start today’s brief with a deadline in mind.

Specifically, a key milestone in the Alberta-Ottawa memorandum of understanding that is fast approaching — an agreement on industrial carbon pricing that needs to be done by April 1st, 2026.

That deal could reveal Alberta’s true appetite for cutting emissions, and exactly how much pressure Ottawa is prepared to apply.

It’s unclear if the April deadline will be met, however.

Spokespeople for Alberta Premier Danielle Smith and the federal Environment Minister Julie Dabrusin both say negotiations are ongoing and more details will be shared in due course.

But speaking at an event in Calgary last week, Natural Resources Minister Tim Hodgson suggested an agreement could still be reached even if both parties didn’t meet the April deadline.

Meanwhile, Alberta’s minister of affordability and utilities, Nathan Neudorf, told CBC there are “some viewpoints that are incredibly far apart” in these talks.

The carbon pricing agreement will describe how Alberta will bring its effective carbon price to $130 per tonne by 2030 when carbon credits currently trade for about $35.

The deal could spell out when measures take effect and how steeply prices will climb in years to come, all while including a financial mechanism to ensure both parties are respecting their commitments.

Aya Dufour reports.

The federal government is bringing law enforcement and financial institutions together to fight extortion operations targeting Canadian businesses and households.

Finance Minister Francois-Philippe Champagne was in Mississauga, Ont., on Thursday to announce a suite of new initiatives he said will make it easier for police to “follow the money” and disrupt criminal networks.

Champagne said organized crime is making Canadians anxious in their own neighbourhoods.

“For too many people, extortion is not an abstract concept anymore,” he said at a press conference.

“It is a threat that is sent through their phone. It is the business owner deciding whether it is safe to open. It is families feeling unsafe in their home communities.”

Canada’s financial intelligence agency Fintrac will put new resources behind tackling extortion. As part of that effort, Fintrac agents will also embed with local law enforcement on the ground to help quickly trace reports of extortion.

The Canadian Press has more.

Canada’s energy efficiency law was built for appliances in the 90s. The Liberal government has introduced legislation in the Senate that it says will modernize these rules to keep pace with fast-growing technology, including the rise of so-called smart appliances.

The original Energy Efficiency Act first went into effect in 1995 with a goal on reducing overall energy consumption. It enabled Natural Resources Canada to set and enforce standards, create the EnerGuide labelling, and collect energy-use data for regulated appliances and equipment.

Bill S-4, which is now at second reading in the Senate, would expand the definition of energy efficiency and durability standards, and include digital labelling for online retailers.

Sydney Ko explains.

Hill Movers: Palwashah Ali leaves Queen’s Park for role with Indigenous Services minister’s office

Comings & Goings: Marnie Myszko joins Edelman, Erin O’Toole goes to Huron University, Homeward Public Affairs brings on Karina Rolland

No Talking Points: Polling, Power, Pressure and the Path to an Election

In Other Headlines

Internationally

The former Prince Andrew was arrested by British police Thursday on suspicion of misconduct in public office related to his links to Jeffrey Epstein, an extraordinary move in a country where authorities once sought to shield the royal family from embarrassment.

It was the first time in nearly four centuries that a senior British royal was placed under arrest, and it underscored how deference to the monarchy has eroded in recent years.

King Charles III, whose late mother lived by the motto “never complain, never explain,” took the unusual step of issuing a statement on the arrest of his brother, now known as Andrew Mountbatten-Windsor.

“Let me state clearly: the law must take its course,’’ the king said. “As this process continues, it would not be right for me to comment further on this matter.’’

AP reports.

In Other International Headlines

The Kicker

Not so fast, Nate Erskine-Smith.

The Ontario Liberal Party will hold an open nomination to choose its candidate in the upcoming Scarborough Southwest byelection, interim leader John Fraser confirmed Thursday.

The east Toronto seat became vacant earlier this month after former NDP deputy leader Doly Begum stepped down to run federally for the Liberals in the overlapping riding.

Fraser has the power to appoint a candidate in Scarborough Southwest, where Liberal leadership hopeful Nate Erskine-Smith and the party’s 2025 candidate in the riding, Qadira Jackson, each say they want to run.

Our sister publication QP Briefing has more.

Have a great night!