Words Into Action: Ontario Gets Ready For Implementation As It Releases Final Regulations For Cap-And-Trade Program And Greenhouse Gas Reporting

As we reported earlier, the Ontario government passed the final version of the Climate Change Mitigation and Low-carbon Economy Act, 2016 (the Act) on May 18, 2016. The Act received Royal Assent later that same day and is now in force. On May 19^th, the government posted the final version of The Cap and Trade Program Regulation (O. Reg. 144/16) (the Regulation). As discussed in an earlier post, the Regulation set out details of the cap-and-trade program proposed for Ontario, including caps, compliance periods, rules related to registration and participation, details regarding who is a mandatory participant and who can participate as a voluntary or market participant, and information on the allocation of allowances. Although the substance of the Regulation has not changed since it was in its draft form, the final version sets out additional details related to the attribution of allowances and circumstances when the Director will determine amounts, registration