Two significant events have…

Two significant events have occurred this week that should pause this policy, and require a re-evaluation of the the cancellation of Bill 4, to give the Ontario Government time to take into account the UN IPCC October 8th, SR15, report that calls for urgent action to phase out fossil fuels. Adding to this event The Royal Swedish Academy of Sciences has awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2018 to William D. Nordhaus, Yale University, New Haven, USA "for integrating climate change into long-run macroeconomic analysis" and Paul M. Romer, NYU Stern School of Business, New York, USA "for integrating technological innovations into long-run macroeconomic analysis."

With these events, the scientific consensus on the urgent need for action and economic leadership, which has been provided by these Nobel Prize winners, demonstrate that both urgent adaptation to the climate change is needed and possible.

Putting a price on carbon has been seen as one of the more important tools that any government can use. We could debate which pricing scheme is better: Carbon Tax or Cap and Trade. However, any policy change away from Cap and Trade, including to a Carbon Tax, should include a planned transition to a new and stronger economic program, as well as full compensation for the companies that have invested in the Cap and Trade program.

As one of the wealthiest carbon using provinces, in one of the wealthiest carbon using countries, Ontario should be leading the world in implementing urgent action to move to phase out fossil fuels and move to a sustainable, renewable economy along with the rest of the world. It is very clear that future employment for the people of Ontario is dependent of the decisions that are currently being made.

I urge the Ontario government to provide leadership in creating policies that support the citizens of Ontario and the world in phasing out the use of carbon fuels and building a sustainable economy. The people of Ontario need the Ontario Government to build on and improve past policies. The world is looking to Ontario to continue to provide leadership.

Bill 4 should be withdrawn, and replaced to a Bill that addresses these urgent needs, and plans to build a 21st Century economy for Ontario.