Ontario Takes Next Step Toward A Cap-And-Trade System
McGuinty Government Sets Down Rules For Reporting Greenhouse Gas Emissions
Industrial facilities that release 25,000 tonnes or more of greenhouse gases (GHGs) will soon be required to report their emission data to the government and public.
This new reporting regulation comes into force on January 1, 2010. It covers who has to report, what data they report, and how and when they report it. This is an important first step towards implementing a cap-and-trade system in Ontario.
The government anticipates that between 200 to 300 facilities will be affected. They will start reporting their 2010 emissions in 2011.
Cap and trade is an essential tool in helping Ontario and other jurisdictions combat climate change. It uses market forces to help industry lower GHGs, while stimulating technological innovation and job creation.
Ontario has demonstrated leadership working with other North American jurisdictions to pursue a common approach to cap and trade. This commonality will protect the province's businesses and economy.
- Ontario's Climate Change Action Plan calls for reducing greenhouse gases by six per cent from 1990 levels by 2014 and 15 per cent by 2020.
“Ontario has an aggressive action plan to reduce greenhouse gas emissions and combat climate change. Cap and trade will figure significantly in helping us achieve our action plan targets, keep our industries competitive, reduce our carbon emissions at the lowest cost, and reap business opportunities arising from the new green economy.”