Ontario reveals its proposals for Cap and Trade

The Ontario government introduced Bill 172, the Climate Change Mitigation and Low Carbon Economy Act to the Legislature on February 24, 2016; a summary is available here ; the Bill and status is available here .  It proposes to establish greenhouse gas emissions targets in statute for 2020, 2030 and 2050, with the option to establish interim or more stringent targets through a regulation. Most notably, it establishes the expected cap and trade program, with  requirements for greenhouse gas emissions quantification and calculation, reporting and verification, the submission of allowances and credits to match greenhouse gas emissions,  the creation , distribution and trading of allowances and credits,  and an offset program. The full and detailed outline of the Regulatory proposals re the Cap and Trade program are available at the Ontario Environmental Registry, open for public comment until April 10, 2016.   .  Other announcements:  $5 million from the Green Investment Fund to provide Indigenous communities with training, tools and infrastructure to address climate change, with additional $8 million to develop advanced microgrid solutions in First Nations communities(March 17);  provincial investment and partnership with a  Japanese company Mitsui High-tec to build the first manufacturing facility in Ontario, in Brantford, to produce motor cores for electric and hybrid vehicles.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s