Ontario's withdrawal from…

Ontario's withdrawal from the Cap and Trade Program (the Program) is incredibly concerning and economically and environmentally unwise. The Program, though causing a few hundred dollars in direct cost increases to households across Ontario each year, was primed to create greater savings for households through energy efficiency retrofits, greater access to renewable and affordable energy, accessible and low-emission transit, and savings on electric vehicles, amongst other opportunities.

Many major industrial emitters of greenhouse gasses have already invested in reducing their emissions to comply with the cap set by the Program in 2017. Some companies even reduced emissions enough to create surplus carbon credits, the sale of which would have benefited them financially. Stakeholders and First Nations across the province had begun considering and even investing in projects to generate carbon offset credits which companies emitting above the cap could purchase, as well as utilizing funding programs allocated from the Program's revenues. Cancellation of the Program will render these projects without return, wasting investments and devastating an emerging environmentally friendly economic opportunity. Thus, industry, companies, stakeholders, First Nations, and the public alike stand to lose financially, environmentally, and socially should Ontario pass Bill 4 and cancel the Cap and Trade Program.

Does Premiere Doug Ford want to be remembered as the Premiere who pulled out of an economically-backed program which generated over $1 Billion in revenue within one year? Does he want to be remembered as the Premiere who caused financial losses for his constituents and companies across the province? This is not what a "Government for the People" would do.