The canadian conservative party is largely neoliberal. Neoliberalism is generally in favor of lower regulations, lower taxes and more private sector presence.

It's a good move. Canada isn't even close to hitting it's climate goals. The only way to actually hit 1.5C climate goals would be to tax carbon extremely heavily, resulting in a massive drop in quality of life. However if we and other countries don't pay that "tax", then we will pay massive interest over the next couple generations. It's a lose lose situation.