Cap and trade is in the new kid in town as far as carbon pricing goes in Canada. In April, just before the Premiers’ Climate Summit, Ontario made headlines by announcing it will join Quebec’s cap and trade system, which is linked to cap and trade in California.
So just how does it work? Here’s our short primer.
The system was first adopted by Quebec in 2013 (although it’s worth noting the province did impose a tax on gas and diesel fuel back in 2007).
“The benefits of emissions trading, beyond ensuring the climate goal is reached in a (Read more…)