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Fact Sheet - Ontario's Approach to Cap and Trade

Fact Sheet - Ontario's Approach to Cap and Trade

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Published by: uncleadolph on May 05, 2011
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Fact sheet - Ontario's Approach to Cap and Tradehttp://news.ontario.ca/ene/en/2009/05/fact-sheet---ontarios-approach-to-cap-and-trade.html[5/4/2011 10:40:12 PM]
May 27, 2009 4:02 PM
The Model
Cap and trade is one of the most effective strategies we can use to combatclimate change, reduce our greenhouse gas (GHG) emissions and help createa green economy.Proposed amendments to the Environmental Protection Act would put thefirst steps in motion for a cap-and-trade system in Ontario.Ontario's leadership in this area -- pursuing partnerships with Quebec, otherprovinces and U.S. jurisdictions - helps to ensure the province's strongposition in an emerging green economy. We will attract new businesses,stimulate job creation and bolster investments in new greener technologythat can be exported around the world.Currently, industry (including electricity generation) produces 40 per cent of the province's total GHG emissions and needs to do its part in helpingOntario meet the targets set in its Climate Change Action Plan. The plancalls f or GHG emissions to be reduced by six per cent below 1990 levels by2014,and by 15 percent by 2020.Cap and trade would also create a demand for low-carbon technologies,driving innovation, economic growth and new job creation.As well, Ontario would be well positioned to protect Ontario's interests innegotiations with the federal government and with other jurisdictions whendeveloping a North American cap-and-trade system.
Aligning Ontario's Approach with What is Emerging in North America
Ontario will aim to harmonize its cap-and-trade program with Canadianfederal, North American and international approaches. A broad, commonsystem would maximize Ontario's trading opportunities, ensure a levelplaying field for our industries and avoid punitive cross-border tariffs. TheUnited States is moving to put a national program in place that could beginas early as 2012.
May 27, 2009 3:50 PM
May 27, 2009 3:31 PM 
Related News
Fact sheet - Ontario's Approach to Cap and Trade
Fact sheet - Ontario's Approach to Cap and Tradehttp://news.ontario.ca/ene/en/2009/05/fact-sheet---ontarios-approach-to-cap-and-trade.html[5/4/2011 10:40:12 PM]
Ontario will continue to work with its partners in the Western ClimateInitiative (WCI), which is playing an important role in the development of aU.S. federal and broader North American cap-and-trade system. Membersinclude Ontario, Quebec, British Columbia, Manitoba, and seven U.S. states.Ontario will also work with the Government of Canada to develop a nationalsystem that reflects Ontario's interests. One of the goals of this work will beto avoid duplicate federal and provincial regulations.
The Specifics
Ontario's Environmental Protection Act (EPA) provides the authority toimplement a cap-and-trade system.However, the EPA does not provide specific authority to support certainelements of the cap-and-trade system being considered for Ontario. TheEPA needs to be amended accordingly.The proposed amendments to the Environmental Protection Act wouldprovide, if passed, the regulatory authority needed to set up a GHGemissions trading system. This would allow the government to createregulations that would set the rules around such things as allowances, linkingto other trading systems and related activities.While the proposed bill would give the authority to make regulations, thedetails of the regulations would not be determined until the government hasconsulted further with industry and stakeholders. To assist in those talks, adiscussion paper has been developed.Our first consultation with affected industries and other stakeholders shapedOntario's approach to cap and trade. Their input is reflected in theobjectives, which include:establishing a reliable "price on carbon" signal, which would helpindustries plan their growthenhancing competitiveness of Ontario industriesensuring a level playing field for Ontario businessesencouraging low-cost, absolute GHG reductionsavoiding duplication (with potential federal requirements)creating green jobs.The
discussion paper "Moving Forward: A Greenhouse Gas Cap-and-Trade System For Ontario"
- which is posted on Ontario's
under Registry number
- helps clarify the approachbeing considered in Ontario and the decisions to be made around Ontario'smodel. It includes the elements of a cap-and-trade system, givesbackground on each element according to stakeholder views, and outlinesoptions to be weighed. Stakeholder discussions and public review will occurover the summer and fall of 2009.Our path will become clearer as the details of a U.S. federal and Canadianfederal system are revealed and stakeholders make their views known thissummer.
The Process
The proposed legislation is posted on the
underRegistry number
for 60 days. The public is invited to comment.Ontario's proposed bill must go through final readings and passage before itbecomes law. Second reading would not occur until after the legislatureresumes in Fall 2009.

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