Ontario Taking Next Step in Implementing Cap and Trade Program

Via Ontario Ministry of the Environment and Climate Change.

Ontario is helping to make it easier for individuals, companies and organizations to get involved in fighting climate change.

Today, with Minister of the Environment and Climate Change Glen Murray at the United Nations' 22nd Climate Change Conference of the Parties in Morocco, the province is announcing consultations on its Offsets Credits Regulatory Proposal, which would help Ontario companies meet part of their compliance obligations to lower greenhouse gas emissions with offsets credits.

The proposed regulation would allow companies participating in the cap and trade program to purchase carbon offset credits for reducing their emissions or removing greenhouse gases emitted by sources not covered by cap and trade. Offset credits can be purchased for projects such as tree planting, which absorbs carbon dioxide, or manure management, which captures and destroys methane gas.