(New York, NY – June 15, 2018) Ontario’s Premier-designate Doug Ford today announced the province would end its cap-and-trade program and withdraw from the Western Climate Initiative (WCI). By adopting cap and trade, the province chose a proven, cost-effective approach to reduce dangerous greenhouse gas emissions, and the revenue it generates is reinvested into the province. Ontario linked its market with Quebec’s and California’s when it joined the WCI last year, and both of the auctions of greenhouse gas allowances held since then sold out, demonstrating market stability and driving significant revenue to Ontario.
“Climate change is an urgent threat to the planet and human health, and Ontario took an important step toward addressing it with its cap-and-trade program. The Premier-designate’s decision to abandon Ontario’s market when it was showing clear signs of stability and success is a significant step backward for the province, and the ‘go-it-alone’ approach will cost Ontario more down the road. California and Quebec will continue their successful linkage, and will continue to drive emission reductions and grow the low-carbon economy.”
- Nathaniel Keohane, Senior Vice President for Climate, Environmental Defense Fund
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