WATCH: Green Party Leader praises Supreme Court for ruling carbon tax constitutional

"Today is a good day," Paul began. "Today is an exciting day for people across Canada because the Supreme Court has ruled today that the federal Greenhouse Gas and Pricing Act is, indeed, constitutional."

Paul praised the ruling, arguing that taxing carbon is an important step to reducing the effects of climate change, calling it "efficient" and "effective."

She also praised the Supreme Court for acknowledging the existence of climate change, stating that the federal government has an important role in combatting it.

Justices ruled in a 6-3 decision that the carbon tax is constitutional, a move which comes as a blow to conservatives and taxpayer advocates across Canada who have vigorously campaigned against the carbon tax.

The dissenting justices argued that the carbon tax is too great of an imposition on the provinces by the federal government, and that the federal government does not have the right to arbitrarily raise and lower taxes without Parliamentary approval.