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.