Monday, June 18, 2018

No more carbon-credit sales for Ontario

Farmers are out of luck selling carbon credits because California and Quebec have closed the joint carbon market to Ontario.

Their move comes after Premier-elect Doug Ford said his first move in office will be to scrap the cap-and-trade policy.

He also plans to have Ontario join Saskatchewan in a court challenge of the federal government’s right to impose a carbon tax.

Ford played down the potential for lawsuits and said companies that are holding emission allowances will benefit from the removal of the regulatory burden going forward.

“They’re going to be quite happy that they won’t pay in the future; it’s putting money back into businesses’ pockets and families’ pockets, [and] I think people will be pleased,” he said.

Asked whether the province is facing lawsuits, he said: “I don’t believe so; we’ve looked into that and we don’t see a problem with that.”