Since Ontario started its cap and trade program on January 1, 2017, it has generated CAD$2.4 billion dollars in revenue for the province in 5 auctions - money allocated for carbon reducing projects. But, what about the downside? From what I can see, there is very little, but it still needs to be addressed.
WELCOME TO THE ADEC INNOVATIONS BLOG
This blog combines articles from ADEC ESG Solutions, as well as FirstCarbon Solutions (FCS), an ADEC Innovation.
A co-founder of Wind Simplicity™, her company manufactures products with a sustainable product lifecycle. A small wind turbine entrepreneur who supports onsite electricity generation, Sharolyn owns several patents, and is a practitioner and supporter of triple-bottom-line accounting that values the planet and people as well as profit.
The host of The Earth Guardian Radio Show, she promoted individuals with innovative approaches in tackling the challenge of climate change.
As a mother, Sharolyn is deeply concerned about climate change and she hopes to inspire more and more people to help to minimize human impact on the planet inorder to secure a sustainable future for generations to come.
This extreme cold snap is great for what?
Posted by Sharolyn Vettese on Feb 20, 2018 10:00:00 AMMORE
Although it is face-numbing to endure an extended cold snap of -20C or more (more than -4F), that we have had for several weeks so far this winter, it is a great opportunity to seek and seal the energy leaks in your home because the 40-degree difference between the outside and inside temperatures (about 22C or 72F) is so extreme that they are easier to find. If you find and seal them now, your air conditioner will not have to be on as often, or as long because there will be less hot air getting into your home.
Ontario Now Has the Second Largest Cap and Trade Market in the World!
Posted by Sharolyn Vettese on Jan 30, 2018 10:00:00 AMMORE
The second largest carbon market in the world was created on January 1, 2018 when Ontario’s cap and trade program was linked with those of California and Quebec in the Western Climate Initiative (WCI). This means Ontario, California, and Quebec will be holding joint auctions of greenhouse gas (GHG) emissions allowances, and also have harmonized regulations and reporting. The international provincial and state governments’ announcement made on September 22, 2017 pledged for them to work cooperatively. By doing so, they are effectively bypassing climate action delays or inaction at the federal level of government, and already this has had an impact on other international cap and trade programs.
Climate Change and the Fast-Vanishing Land North of the Arctic Circle
Posted by Sharolyn Vettese on Dec 26, 2017 10:00:00 AMMORE
It was in 2000 when I saw cockroaches scurrying around the left-over campfire in Ontario’s Killarney provincial park that I started observing the effects of climate change. I had gone backpacking with my son and sister, and until then, I thought one of the benefits of the cold Canadian winter was that it killed off exotic insects. But that anomaly pales with what I saw this summer north of the Arctic Circle where a warming climate is resulting in a rapid loss of land from several causes simultaneously -- namely heat, heavy rains, and shoreline erosion.
Are Natural Disasters Such as Hurricanes the New Normal?
Posted by Sharolyn Vettese on Oct 31, 2017 10:00:00 AMMORE
Canadian Businesses Tackle Climate Change via the Low-Carbon Economy
Posted by Sharolyn Vettese on Oct 3, 2017 10:00:00 AMMORE
If the Cap-and-Trade Charge Is Not a GHG Emissions Tax, Then What Is It?
Posted by Sharolyn Vettese on Aug 1, 2017 10:00:00 AMMORE
When the cap-and-trade charge was added to Ontario consumers’ bills for fuel at the pump, electricity, and natural gas, the public reacted like it was another tax. This is understandable because it looks like a greenhouse gas (GHG) emissions tax. Fuel suppliers, electricity importers, and natural gas distributors do not show the cap-and-trade charge as a separate line item like the HST (harmonized sales tax), but consumers have been paying this additional cost since January 2017. It is not shown because the distributors wanted the cap-and-trade charge buried in their delivery charges. If it were easily identified, then at a minimum it would have informed consumers that the government is dealing with the cost of climate change. But, it is more complicated than that.
Why the Ontario Cap and Trade Program is Here to Stay
Posted by Sharolyn Vettese on Jun 13, 2017 10:00:00 AMMORE
Some in the business community are uncertain whether the Ontario Cap and Trade (CT) program will survive a Progressive Conservative win in the provincial election scheduled next year, but there is no need to worry. Like previous politicians riding on voters’ anger, the rhetoric is replaced by bluster once elected because the revenue stream is too vital to be terminated. This happened in the First World War when the Canadian government implemented a temporary tax on income, and more recently the reviled Goods and Services Tax (GST). Both are alive and well today, decades after their initial implementations. Lessons learned from the past are transparency and communication, and so far the Ontario government is doing that with the CT program, with good results in reducing GHG emissions. But, let’s take a closer look.
More Transparency is needed in Ontario’s Cap and Trade
Posted by Sharolyn Vettese on May 9, 2017 10:00:00 AMMORE
More needs to be done to ensure the success of Ontario’s Cap and Trade (C&T) program; otherwise misinformation and misunderstanding will be manipulated by politicians and others to scuttle it to keep the status quo. To prevent that, Ontario needs to expand its commitment to greater transparency, and accountability in the following key areas:
Is a Carbon Tax the Same as Cap and Trade?
Posted by Sharolyn Vettese on Jan 31, 2017 10:00:00 AMMORE
There is a lot of confusion between cap and trade (C&T) and a carbon tax. This is understandable because it is all newly mainstream since the Paris Agreement in 2015. Moreover, both terms are related to emissions reduction. This blog will clarify the difference.