As we have previously discussed (
here), the Ontario Government plans to implement a cap and
trade program as of 2017. No details have been announced, though
consultations have been underway with manufacturers and other
emitters for some time. There has been speculation in press reports
(for example, here ) that some of the details of the cap and
trade program will be included in the Budget, which will be
presented to the Legislature on February 25, 2016. According to a
recent news article, Environment and Climate Change
Minister Glen Murray will announce the details of the cap and trade
program, including legislation, in the coming weeks.
EnergyInsider.ca will provide commentary on the details of the
cap and trade program when they are released.
In the meantime, the Ontario Government has made a number of
announcements about how it plans to spend some of the money
expected to be raised through auctions of carbon credits under the
cap and trade program. In late 2015, the Government announced the
creation of a $325 million "Green Investment Fund" that was called a
"down payment" on the proposed cap and trade program, to
be funded from the planned auctions for emissions credits. Over the
past couple of weeks, there have been several announcements about
new programs that will be paid for through the Green Investment
Fund. One of these is a $100 million program in partnership with
Enbridge Gas Distribution and Union Gas to help homeowners conduct
audits to identify energy-saving opportunities and then complete
retrofits, such as replacing furnaces, water heaters and upgrading
insulation. Another is a $74 million initiative to encourage large
industrial plants to adopt leading-edge technologies to reduce
emissions. A third program will invest $92 million from the Green Investment
Fund into social housing retrofits that invest in clean
technologies and improved energy efficiency. Other announced
programs to be funded from the Green Investment Fund are aimed at
adding electric vehicle charging stations and helping small and
medium-sized businesses reduce emissions and become more energy
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Ontario's Ministry of the Environment and Climate Change continues to roll out its Climate Change Action Plan with its proposed GHG guide for projects that are subject to the province's Environmental Assessment Act.
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