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ARTICLE · 07 AUGUST 2018

The Elimination Of Ontario's Cap-And-Trade Program

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On July 25, 2018, the newly elected Ontario Government tabled Bill 4, the Cap and Trade Cancellation Act, 2018 to repeal the Climate Change Mitigation and Low Carbon Economy Act, 2016...

CanadaEnergy and Natural Resources

On July 25, 2018, the newly elected Ontario Government tabled Bill 4, the Cap and Trade Cancellation Act, 2018 to repeal the Climate Change Mitigation and Low Carbon Economy Act, 2016, cancelling Ontario's cap and trade program.

Ontario's Cap and Trade Program

The cap-and-trade program came into effect January 1, 2017, and was aimed at reducing GHG emissions to 15 percent below 1990 levels by 2020, 37 percent by 2030 and 80 percent by 2050. The program set "caps" on greenhouse gas emissions for companies in certain industries, including manufacturing, electricity and fuel distribution. Companies that emit below the cap could generate credits and then sell those credits to other companies that exceed the limits.

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