By Canada Ministry of the Environment and Climate Change - September 13.
Today, Ontario announced the results of the province's third auction of greenhouse gas emission allowances, held Sept. 6, 2017.
A total of 25,296,367 current (2017) allowances were sold at a settlement price of $18.56 CAD and a total of 3,116,700 future (2020) greenhouse gas emission allowances were sold at a settlement price of $18.03 CAD. The auction generated an estimated $525,694,672 CAD in proceeds, which by law will be invested in programs that will reduce greenhouse gas pollution and help families and businesses reduce their own emissions through the Climate Change Action Plan.
Proceeds from the province's carbon market auctions are funding programs in 2017-18 that help people and businesses across Ontario reduce pollution, including:
- Up to $377 million to establish the Green Ontario Fund to help homeowners and businesses save money and fight climate change through programs and rebates