The Government of Ontario has unveiled the underlying legal framework for its cap-and-trade program. Like the European Union Emissions Trading System, the proposed Act places a cap on carbon emissions and facilitates the trading of pollution allowances. The ultimate objectives of the Act are to reduce the emission of GHGs, while providing financial incentives to businesses. This article assesses the proposed Act with respect to the criteria of a robust cap-and trade system, including: effectiveness; comprehensiveness; transparency and fairness; and offset eligibility.
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