In numerous reports, the…

In numerous reports, the Intergovernmental Panel on Climate Change (IPCC) has identified carbon pricing as an essential policy instrument to curb carbon emissions and slow climate change. The most recent IPCC report, Global Warming of 1.5°C, stated that "pathways limiting global warming to 1.5°C with no or limited overshoot would require rapid and far-reaching transitions in energy, land, urban and infrastructure (including transport and buildings), and industrial systems." The changes required are of an unprecedented scale. Government has an important role to play: carbon pricing is a broad policy that incentivizes behaviour change (both individual and corporate), therefore facilitating the required transition across the entire economy. Ontario's participation in a carbon market with Quebec and California made us a leader. Withdrawing from this market without an equally effective replacement policy makes us a laggard. This Bill is a short-sighted mistake with long-term consequences.