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April 19, 2015

Ontario To Move Forward With Cap-And-Trade Plan

According to The Wall Street Journal, though leaders in Canada’s parliament oppose a national cap-and-trade system, Ontario will move forward with one. Officials in Ontario said the province’s plan would  “effectively reduce the amount of greenhouse gas pollution in our atmosphere by setting a limit on emissions, rewarding innovative companies, providing certainty for industries and creating more opportunities for investment.” 

Government officials declined to give further details, but The Journal reported they are likely to release a more detailed proposal later this year after they have conferred with “industry and other stakeholders.” Officials in Ontario did say they would use proceeds from the system for programs to help reduce carbon emissions or to “help businesses remain competitive.” 

Quebec already has a cap-and-trade program in place, but The Journal says, nationally, officials prefer “a sector-by-sector approach, with rules designed for specific sectors.”