By: Marc Z. Goldgrub, Cleantech Law Partners
On
January 1st, 2017, the Canadian
province of Ontario’s cap and trade plan went into effect. Introduced by
current Provincial Premier Kathleen Wynne of the Ontario Liberal Party, the
plan links Ontario with Quebec and California’s cap and trade carbon market, in
place now for several years.
The plan puts a cap on the amount of carbon homes
and businesses can emit, and that cap lowers over time. Parties in the three
subnationals whose emissions are above and below the cap can buy and sell
carbon allowances each year in auctions, the first of which, for Ontario, will
be held this March.