The Ontario Government is joining Quebec and California in a cap-and-trade system to reduce greenhouse gas emmissions.
By linking with Quebec and California, Ontario will create a carbon market of 61 million people and cover more than 60 per cent of Canada’s population.
However, the announcement revealed little about exactly who will pay for the new carbon market and how consumers can expect to be impacted relative to corporate emitters.
There was no dollar figure attached to Ontario Premier Wynne’s announcement. Nor did she say how much will be raised by the system, in which a cap is put on the level of greenhouse gas emissions in each sector of the economy. Continue reading