Wynne Announces Cap and Trade System

Premier Kathleen Wynne says the cap and trade system adopted in Ontario will reduce the main sources of greenhouse gas emissions and protect the environment.

Ontario is joining other jurisdictions, including Québec and California, by imposing a hard cap on the pollution allowed in each sector of the economy. Companies that stay below the cap will be allowed to sell their unused quota to other firms that want it.

The Premier's office calls climate change, "one of the greatest challenges mankind has faced", and claims cap and trade will significantly reduce harmful emissions and create revenue for projects that may contribute to the reduction of greenhouse gases and help businesses stay competitive. Those projects could include:

• helping families consume less energy through the use of energy efficient appliances and housing
• investing in public transit
• helping factories and businesses reduce their greenhouse gas emissions

Premier Wynne maintains that the environment is one of her top priorities. “Climate change is a problem that is both critically important and urgent. It is causing extreme weather events, which can increase insurance costs, hurt wildlife, damage our environment and affect farming. Climate change needs to be fought around the globe and it needs to be fought here in Canada and Ontario. The action we are taking today will help secure a healthier environment, a more competitive economy and a better future for our children and grandchildren.”

Ontario will host a Climate Summit of the Americas from July 7-9, 2015, ahead of the Conference of the Parties in Paris in December.