I believe the cancellation…

I believe the cancellation of the Cap and Trade program is a mistake. Green house gas emissions must be controlled and lowered as soon as possible and it is appropriate that the polluters pay. The gradual lowering of the emissions cap will force green house gas emitters to buy credits if they are not able to lower their emissions to meet the cap. As companies will not want to pay they will be encouraged to find innovative ways to cut their emissions and in the process be able to sell credits to those who have not been able to meet the standard. Money collected by the government has been allocated to pay for new green initiatives which will further allow the province to engage in a green economy and reduce dependence on fossil fuels. As the world moves toward a green economy, Ontario needs to move in this direction and become a leader in this field, which can only be done if innovation is encouraged and financially rewarded. As a leader in green technologies Ontario's economy would also benefit. Unfortunately, with the loss of Cap and Trade dollars, hundreds of these important projects have been cancelled, many of which have already spent money on planning and staff and in some cases infrastructure. The money that has been already spent, will be completely wasted if the projects do not go forward to completion and in addition, the present staff working on the projects and future workers needed for completion will no longer be employed. Communities across the province are being impacted with the loss of projects which will benefit their communities but which cannot be financed without government assistance. Even if some of the projects were individually considered to be completed, where would the investment come from if Cap and Trade dollars are lost?
The Environmental Commissioner has already submitted a report, which states that the Cap and Trade System was working. As an independent officer of the Legislature, her conclusions are based on evidence and should be respected.
In conclusion, I believe that Ontario is dismantling a working system with proven results in terms of emissions reduction and that has the potential transform Ontario's economy to be greener and be a system ready to participate and lead in the future.