The Cap and Trade Act must…

The Cap and Trade Act must not be cancelled without first establishing other regulations to reduce greenhouse gas emissions by an equivalent amount--preferably more. Postponing urgently-needed steps to combat climate change will cost the government and taxpayers billions more than the costs of continuing on our current path to reduce emissions gradually. Industry is asking for regulatory certainty on carbon pricing so they can plan accordingly; backpedaling on recent legislation is bad for Ontario's businesses. Record-breaking temperatures and natural disasters worldwide this year have finally convinced most of the remaining climate change skeptics that we are indeed facing a real, human-induced threat to our planet. Ontario's Cap and Trade Act was an act of leadership; repealing it without another system in place (e.g., fee and dividend) is both morally and economically reprehensible.