Ontario NDP propose cap-and-trade system; other parties differ on emission reductions
Posted May 30, 2022 04:47:40 PM.
Ontario's NDP is proposing to establish a new cap-and-trade system for emissions reductions in the province if they are elected this week.
The NDP, Liberals and Greens all pledge to cut emissions in half by 2030 below 2005 levels, but only the New Democrats are promising a new cap-and-trade system to achieve those reductions.
The systems put caps on the amount of pollution companies in certain industries can emit and if they exceed those limits they must buy an equal number of allowances.
The former Liberal government entered Ontario into a cap-and-trade system with California and Quebec, but the Progressive Conservatives withdrew the province from it after they were elected in 2018.
In this election, the Liberals are not proposing to re-establish a cap-and-trade system, rather their environmental platform proposes to strengthen requirements on large industrial emitters.
When asked about his emissions reductions plan today, PC Leader Doug Ford touted electric vehicle manufacturing and making steel production greener.
The Green Party's plan proposes to increase the carbon price per tonne until it reaches $300 in 2032, returning the revenue to individuals, and eliminate fossil fuels from electricity generation.
This report by The Canadian Press was first published May 30, 2022.
