TORONTO, Ont. – Ontario’s Environmental Commissioner said the first year of Ontario’s carbon cap-and-trade system went well, but that more needs to be done.
“A price on carbon pollution is a crucial tool we need to slow climate change,” said Environmental Commissioner, Dianne Saxe.
Carbon taxes raised $1.9 billion in 2017, which was used to reduce greenhouse gas emissions. A report titled Ontario’s Climate Act: From Plan to Progress, noted that $1.37 billion in projects were funded through the program as of November 2017.
The report acknowledged the government needs a better plan for spending cap-and-trade funds, and that a number of proposed policies may not lower emissions.
The report also raises concerns that the government’s long-term plans for reducing emissions may not be sufficient.
“There are no more silver bullets,” said Saxe.
Transportation represents a third of Ontario emissions, and GHG emissions from freight transportation have more than doubled since 1990, the commissioner reports.
“Reducing greenhouse gas emissions and putting a price on carbon pollution are a good start,” said Saxe. “But this is a complicated process; there is a lot more to do.”