Wednesday, April 14, 2021
  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us
No Result
View All Result
WORLDHAB
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media
No Result
View All Result
WORLDHAB
No Result
View All Result

Home » News » Cap-And-Trade Cash in Limbo as Ontario Rebate Program Cut

Cap-And-Trade Cash in Limbo as Ontario Rebate Program Cut

October 24, 2018
in Business, News
26
0

The Ontario government’s move to abruptly cancel the province’s cap-and-trade system has left billion of dollars in carbon credits in limbo, according to the Canadian Press. In addition, many consumers may have to pay the price for expensive home upgrades that were supposed to be part of a green rebate program.

This past summer, Ontario Premier Doug Ford rescinded the previous Liberal government’s regulation that established the cap-and-trade program in 2017, withdrawing from an arrangement with Quebec and California that established a joint carbon market to buy and sell pollution credits. As a result, the federal government has halted Ontario’s portion of the climate change fund, which amounted to $420 million for the province.

“By cancelling Ontario’s cap-and-trade plan, the Ontario government is making it clear that it is not taking climate action, and is effectively withdrawing from Canada’s national climate change plan without a plan of their own,” a spokeswoman for Environment Minister Catherine McKenna told the Canadian Press.

Lawyer Lisa DeMarco says the move by Ontario has created a class of stranded assets that could be worth between $2.6 billion and $3.8 billion.

However, Ontario residents may only be without a carbon price for a short period of time. Under federal law, Ottawa intends to impose a minimum price on pollution through a carbon tax on any province that hasn’t got its own system in place, beginning in January. The federally imposed carbon price would start at $20 per tonne, increasing $10 a year until it reaches $50 a tonne in 2022.

The cancelled cap-and-trade program placed limits on the amount of acceptable emissions from corporations. Those that came in under the limit could generate credits which were then sold to other firms that exceeded the limits. It was hoped the program would create incentives for industry to invest in reducing their carbon footprint.

However, there were questions as to how the program would help Ontarians in terms of energy savings as additional costs were passed along in part to consumers in the form of higher prices for gasoline and heating fuels, which were supposed to encourage those consumers to reduce their energy use. Here are more details on the cap-and-trade program and its impact on Canada energy savings.

Meanwhile, the Green Ontario rebate program, which promoted energy savings, funding incentives for renovators to buy energy-efficient windows, heat pumps, insulation, solar panels and smart thermostats has also been shut down by the Ford government, however the rebates will be honoured until the end of October.

Although the Ford government’s abrupt cancellation of cap-and-trade clouds the issue, it seems clear that Ontario will have some sort of carbon price program come 2019.

Share10Tweet6SendShare2Pin2Share
Previous Post

Bangladesh vs Zimbabwe Cricket scorecard, 2nd ODI: ZIM vs BAN Match Info

Next Post

Five Reasons You Should Try Pod Vaping

Chrissy Ryland

Chrissy Ryland

Chrissy Ryland - I'm a freelance writer and blogger from Northern California. I grew up loving all things entertainment and travel and now I am blessed with a career that lets me write about both of those topics along with many others. For inquiries about a story you think I might want to cover, please contact me at worldhab@gmail.com

Related Posts

bitcoin core wallet

What Is Bitcoin Wallet?

April 3, 2021
Right Lender For A Debt Consolidation Loan

How Do I Choose The Right Lender For A Debt Consolidation Loan?

March 19, 2021
best citibank credit card

Top 3 Citibank Credit Cards To Choose From

March 17, 2021
Kalyan Jewellers IPO

Kalyan Jewellers IPO opened today, should you invest in it?

March 16, 2021
Blockchain certification

How to Turn Bitcoins into Cash Anonymously

March 9, 2021
CHO Recruitment 2020

CHO Recruitment 2020: Rajasthan High Court instructed to issue the cut off

February 23, 2021
SBI Annuity Deposit Scheme Interest Rate

SBI Annuity Deposit Scheme Interest Rate: Earn Regular Monthly Income

February 17, 2021
Gujarat Chief Minister Vijay Rupani tests Covid positive after fainted on stage

Gujarat Chief Minister Vijay Rupani tests Covid positive after fainted on stage

February 16, 2021
Next Post
Five Reasons You Should Try Pod Vaping

Five Reasons You Should Try Pod Vaping

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

SEARCH

No Result
View All Result

FOLLOW US

Follow our social media pages and get updates quicker than ever.

Facebook Twitter Youtube Instagram

RECENT POSTS

Jio Offer to Watch IPL Match

Jio Offer to Watch IPL Cricket Matches: 10GB Free with 1 year Hotstar Subscription

April 13, 2021
senior citizen travel insurance

Is Buying A Senior Citizen Travel Insurance Worth It?

April 7, 2021

How to Recover Data After a Ransomware Attack According to Experts

April 7, 2021
bitcoin core wallet

What Is Bitcoin Wallet?

April 3, 2021
Divorce in Connecticut

Steps to Getting a Divorce in Connecticut | Things You Should Know

March 31, 2021

ABOUT

Founded in 2016, WORLDHAB delivers news from the various niches around the world for the targeted audience. For any advertising queries, contact us anytime.

We got approved in Google news and Bing news in earlier 2016. And since then, we help small businesses to grow their business by improving their website authority.

POPULAR CATEGORIES

  • Business
  • Finance
  • Insurance
  • Bitcoin
  • Entertainment
  • Sports
  • Football
  • Cricket
  • Lifestyle
  • Health
  • Travel
  • Romance
  • Technology
  • Education

FOLLOW

Facebook Twitter Youtube Instagram Pinterest LinkedIn Vimeo

WORLDHAB STATS

  • Monthly Traffic: 50,000+
  • Site Age: 5 Years
  • Google News Approved
  • Bing News Approved
  • Alexa Rank: 912,985
  • Domain Rating: 22
  • URL Rating: 24
  • Domain Authority: 33
  • Page Authority: 38

CONTACT

For Guest posts, Sponsored posts, Advertising enquiries, contact: support@worldhab.com

  • Home
  • About Us
  • Disclaimer
  • Privacy Policy
  • Contact Us

© 2020 WORLDHAB - Premium WordPress theme by VISION.

No Result
View All Result
  • Breaking
    • India
    • World
    • Politics
  • Business
    • Finance
    • Insurance
  • Crypto
  • Entertainment
  • Sports
    • Football
    • Cricket
    • Basketball
    • Tennis
    • WWE
  • Lifestyle
    • Fashion
    • Food
    • Health
    • Pets
    • Travel
    • Romance
  • Tech
    • Android
    • iOS
    • Games
    • Laptops
    • Mobiles
    • Gadgets
    • Social Media

© 2020 WORLDHAB - Premium WordPress theme by VISION.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.