Ontario to enter into a cap and trade system with Quebec to reduce greenhouse gas emissions.
It was announced last week that Ontario Premier Kathleen Wynne would be signing an agreement with Quebec to join the latter province in the cap and trade system. Wynne’s intention is to reduce emissions that lead to climate change, subsequently creating a brighter future for the next generation. The cap and trade agreement with Quebec will do so by restricting the amount of pollution that can be produced within the Ontario economy, rewarding innovative companies that work to reduce their emissions, and more.
Quebec has been a part of the cap and trade system since January of this year.
Learn more about the cap and trade system and Ontario’s implementation of it via CBC News: Ontario to sign cap-and-trade agreement with Quebec to cut carbon emissions.
What is cap and trade?
Cap and trade is a system which places restrictions on the amount of greenhouse gases that industries can emit, while offering trade opportunities for those that produce less pollution than the maximum cap, with those that go over the cap. Ideally, the cap is lowered over time to promote less and less greenhouse gas pollution.
Watch the below video from the Government of Ontario to learn more about cap and trade in Ontario.
https://www.youtube.com/watch?v=m7A2UF_Myhc