TORONTO — Ontario’s final cap-and-trade auction before entering a joint market with Quebec and California next year is set for today. The province launched the program aimed at lowering greenhouse gas emissions this year and has seen three sell-out auctions, bringing in about $1.5 billion for green projects. As of Jan. 1, Ontario will join Quebec and California’s carbon market, which has also seen three sold out auctions in a row for current credits. Both the environmental commissioner and the auditor have said that means greenhouse gas emissions won’t actually be cut in Ontario. If elected in June 2018, the Progressive Conservatives would withdraw Ontario from the cap-and-trade program by July 1, 2019, and instead implement a carbon tax.

Source: National Post November 29, 2017 09:00 UTC