Wednesday
May182016

OCC: Concerns about Cap and Trade; asks for delay

In a letter dated May 12, 2016, the Ontario Chamber of Commerce (OCC) sent a letter to Minister of
Environment and Climate Change Glen Murray asking for a one year delay in the Cap and Trade program to 2018 and for clarity on four main issues:  

 

  1. What will be the economic impact of the cap and trade system?
  2. How will cap and trade revenue be invested and administered?
  3. How, and when, will offsets be available?
  4. What will the cap and trade system look like after 2020?

 

The letter speaks to businesses feeling "uncertain about the incoming cap and trade system and unprepared for its full implementation next year."

It goes on to state, that in order "to produce the most effective environmental and economic outcomes, it is important that government takes the time to get the design of  cap and trade right.”

The letter is in response to the recent introduction of Bill 172, Climate Change Mitigation and Low-carbon Economy Act, 2016.

The OCC thanks the government for their continued engagement with the business community and appreciates the steps toward transparency as it pertains to the Greenhouse Gas Reduction Account.  

The business advocacy group "understands the need to address climate change and will continue to contribute to the conversation."

Read the letter

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