Cap-and-trade in Ontario

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Ontario seems to be taking a lead in consultations aimed at designing a greenhouse gas cap-and-trade system. In December the province released its discussion paper on the issue. Gowlings gives a good breakdown of the details.

A copy of the discussion paper can be found here. Comments will be accepted until March 3, 2009, following which consultations will continue in 2009 on a sector-specific basis with industries likely to be affected, to guide the development of the system. It’s expected that the framework will be announced as early as 2010.