This guest post was contributed by Denisa Mertiri* In December 2015, the Canadian federal government adopted the Paris Agreement’s commitment to intensify actions and investments for a sustainable low-carbon future and to limit global average temperature rise to well below 2°C above pre-industrial levels. In 2016, to honour this commitment, the Government of Canada published […]
Tag: Carbon price
Ontario’s First Cap and Trade Auction Brings in $472M
On March 22, 2017, Ontario held its first greenhouse gas emissions allowance auction under the cap and trade program. The results, released earlier this week, proved a strong start to Ontario’s carbon market with 100% of current 2017 vintage allowances being sold at a price of $18.08. The auction generated $472,031,155 in proceeds, an amount consistent with previous estimates that […]
Pan-Canadian Framework on Clean Growth and Climate Change Outlines Coordinated Plan for Significant Emissions Reductions
Following the First Ministers’ Meeting on December 9th, Canada’s First Ministers issued a joint communiqué and released the Pan-Canadian Framework on Clean Growth and Climate Change (the “Framework”). Governments across Canada will, for the first time ever, work under a coordinated plan to meet national climate targets and adapt to the impacts of climate change. All but two[1] provinces and […]
Decarbonisation, Electrification and Early Action: Canada’s 2050 Strategy for a Low-Carbon Economy
With COP 22 coming to a close in Marrakech last week, the Government of Canada quietly released a report titled Canada’s Mid-Century Long-Term Low-GHG Development Strategy at the conference. The report outlines the path required to reach the net emissions decrease of 80% by 2050 from 2005 levels; consistent with Canada’s commitments to the Paris Agreement to […]
Ontario Releases Cap and Trade Proposal and Funding to Jump-Start the Transition to the Low-Carbon Economy
On February 25, the Ontario government posted its draft cap and trade regulatory proposal for a 45-day public and stakeholder comment period. Covering select large industrial emitters, natural gas distributors, petroleum product suppliers and importers of electricity, the proposed program captures 82% of the province’s total GHG emissions. The regulatory proposal is accompanied by a proposal to further […]