The Ontario government has released a climate change plan to replace the cap and trade plan it scrapped earlier this year.
The plan includes the Ontario Carbon Trust, an emission reduction fund of $350-million that will be used to leverage private investment in clean technologies that are commercially viable.
The Progressive Conservative’s are also allocating $50-million in a reverse auction that will allow businesses to offer proposals on emission-reduction projects and bid on government contracts, awarded based on the lowest-cost reductions in greenhouse gas emissions.
Nancy Urekar, who is a member of Climate Change Action Dufferin-Caledon, says the carbon trust doesn’t incentivize businesses to lower emissions.
Urekar maintains that a carbon tax is the best way to get corporations to lower their emissions.
The plan will also ensure that the public has real-time information about monitoring, incidents and enforcement activities.