Moving Forward: A Greenhouse Gas Cap-and-Trade System for Ontario
Bill or Act:
Summary of Proposal:
On May 27, 2009, the Ontario government introduced enabling legislation that if passed, would allow the implementation of a cap-and-trade system through future regulations that can link to an emerging North American system. To complement the proposed legislation, the Ontario government is seeking stakeholder comments on a discussion paper to inform the development of potential future regulations.
This discussion paper is focused on advancing work on the design of a greenhouse gas emissions trading system for Ontario to help meet the province’s climate change reduction goals and inform discussions on Ontario’s participation in a broader trading program for North America. The paper incorporates feedback from stakeholders and presents critical design issues and options on the key elements of a cap-and-trade system including: scope and thresholds, cap setting and allocation, credit for early action, offsets, reporting, and industry transition.
This posting follows a series of stakeholder consultations through late 2008 and early 2009 on the government’s initial discussion paper.
Feedback from stakeholder consultations and comments on the December 2008 paper were considered in preparing this discussion paper, along with information on developments in other jurisdictions planning cap-and-trade programs.
June 9, 2009
Comments Due Date:
July 26, 2009