The following is a guest post entitled “Ontario’s $2 Billion Question” that was originally posted on EnvironmentalDefence.ca by Keith Brooks, the Director, Clean Economy Program at Environmental Defence. Ontario’s cap and trade system is estimated to generate approximately $2 billion by 2020. This article discusses Ontario’s options for re-investing the revenue back into tangible climate solutions for the province, in order to ensure Ontario meets its 2020 carbon target.
Ontario’s $2 Billion Question
Ontario has announced it is bringing in a cap-and-trade system as part of its climate strategy. Cap-and-trade is one of the main ways governments can put a price on carbon, and it’s a really good idea.
We can’t keep using the atmosphere as a free dumping ground. But right now in Ontario, polluters can pollute for free and there’s no limit to the amount of pollution they’re allowed to spew into the atmosphere. Cap-and-trade addresses both of these issues: It puts a price and a limit (the cap) on carbon pollution. That’s why cap-and-trade is becoming increasingly common around the globe. It’s also why we support it.
Aside from the price and putting a limit on pollution, cap-and-trade has another main strength: it can generate revenue that can be used to support other solutions to climate change – solutions like wind and solar power, more energy efficiency, or electric cars... Read more on Environmental Defence’s website
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