Biomass Innovation Centre praises Ontario’s adoption of cap and trade system
April 14, 2015
By Biomass Innovation Centre
April 14, 2015 - Ontario is joining other jurisdictions, including Québec and California, by imposing a hard ceiling on the pollution allowed in each sector of the economy. Known as cap and trade, this system effectively reduces the amount of greenhouse gas pollution in our atmosphere by setting a limit on emissions, rewarding innovative companies, providing certainty for industries and creating more opportunities for investment in Ontario.
Dawn Lambe of the Biomass Innovation Centre released the following statement in response to the Government of Ontario’s announcement of the adoption of a cap-and-trade system to reduce the province’s carbon footprint:
We are very excited that Ontario is showing leadership in addressing climate change by putting a price on carbon. The fact that revenues will be invested into projects that reduce carbon pollution, such as public transit and conservation, means the system will drive a true carbon shift.
Pricing carbon is critical to reducing emissions, but so is investing in sectors that reduce our carbon footprint while spurring economic development. The Northern Ontario Bioeconomy Strategy, a plan to utilize northern Ontario’s sustainable forest resources and forestry residues to replace fossil fuels and drive innovation and energy security in Ontario, should be a crucial plank in the province’s platform to transition to a low-carbon economy.
To read the release from the Office of the Premier of Ontario, click here.
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