At this stage, my own and…

At this stage, my own and only comment relates to the absence of carbon offsets as a means for achieving emitter compliance.

Offsets provide an important mechanism for emitters to comply with their emissions limits, until necessary capital improvements can be completed (replacement of outdated technologies for example) and technological developments are realized at a cost-effective price. In that regard, offsets have been demonstrated and continue to play an important role in compliance markets (the EU ETS and the California ARB, in particular). The Federal GHG program explicitly includes offsets as a compliance mechanism.

Forest carbon offsets are an obvious choice for Ontario, given its vast forested land base. These offsets can also provide the citizens of Ontario with additional benefits from the wealth of other ecosystem goods and services (clean water, biodiversity, habitat, tourism, etc.) that are realized from these types of projects.