Toronto, ON – We applaud the Ontario government for introducing this important piece of legislation. Enshrining Ontario’s 2020, 2030 and 2050 emissions reduction targets in legislation will ensure Ontario does its part to combat climate change. It will also enable this province to capture more of the jobs and economic opportunities in the low-carbon economy.
We welcome Ontario’s ongoing commitment to cap-and-trade. We are especially glad to see the rules surrounding the use of revenue raised by cap-and-trade. Carbon pricing is critical, but it cannot meet the province’s emissions reduction targets on its own. If used properly, revenue from cap-and-trade can further reduce carbon emissions by funding complementary climate actions. The new Act, which puts more rigour around the use of cap-and-trade proceeds to fund projects that will cut emissions, should help ensure that is the case.
Too often, governments have committed to reducing carbon pollution and set emissions reduction targets but then done little to reach them. Ontario is an exception to this. The province has reduced emissions more than any other province in Canada. Ontario hit its 2014 carbon emissions reduction target, and with the introduction of this Act, it appears committed to reaching future targets too.
About ENVIRONMENTAL DEFENCE (www.environmentaldefence.ca): Environmental Defence is Canada’s most effective environmental action organization. We challenge, and inspire change in government, business and people to ensure a greener, healthier and prosperous life for all.
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