Ontario Cap-And-Trade Legislation
May 28, 2009No CommentsHelping the Economy and Environment
The province is helping industry reduce greenhouse gas (GHG) emissions and stay competitive in the emerging low carbon economy. Proposed legislation being introduced today would, if passed, create the government authority to set up a greenhouse gas emissions trading system within Ontario.
Energy, EnvironmentKnown as Cap and Trade, the system is a form of market regulation applied to greenhouse gases produced by industry. It is an effective way to reduce the threat of climate change caused by carbon emissions.
A discussion paper, called “Moving Forward: A Greenhouse Gas Cap-and-Trade System for Ontario”, is now available that will guide consultations over the summer on what Ontario’s cap-and-trade model could look like. It is posted on the Environmental Registry under number 010-6740.
The government anticipates a North American cap-and-trade plan could be in place as early as 2012.