Back To Square One? Ontario Government Winds Down Cap & Trade Program And Overhauls Approach To Climate Change

On July 25, 2018, the newly formed Ontario Government introduced Bill 4, the Cap and Trade Cancellation Act, 2018 (the "new Act"), which repeals the Climate Change Mitigation and Low-carbon Economy Act, 2016 (the "old Act") and provides for the wind-down of the province's cap and trade program¹. The new Act also sets out a renewed approach to climate change policy. In particular, the Ontario Government is required to establish targets for reducing the amount of greenhouse gas emissions in Ontario. The new Act also provides that the Minister of Environment, Conservation and Parks (the "Minister") shall prepare a climate change plan and regular progress reports regarding same. To that end, the new Act allows the Minister to appoint panels to perform such advisory functions as the Minister considers advisable.