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NOBLETON, Ont. – Ontario's highly anticipated climate change plan is committed to meeting the goals of the Paris Agreement by 2030 through a number of measures, including the creation of a fund to stimulate private investment in clean technologies and the imposition of performance standards on large emitters.
The Progressive Conservative Government's plan, announced by the Minister of the Environment on Thursday, will allow the province to spend $ 400 million over four years for the tax-funded Ontario Carbon Trust, in partnership with the private sector on green technologies.
He will also consult with industry members to develop performance standards for large emitters.
"It's a plan that marks a clear break with the status quo and balances a healthy environment with a healthy economy," said Phillips. "Our plan will encourage individuals, families and businesses to take greater ownership of our shared environment as we work toward these shared goals."
Phillips pointed out that the plan – which replaces the cap and trade system of the previous Liberal regime – does not impose a price on carbon. During the spring election campaign, the Conservatives repeatedly said that a carbon pricing system, which is a federal requirement, makes life unaffordable for families.
The Ontario Carbon Trust will include a $ 50 million "reverse auction" that will incentivize companies to bid for contracts with government procurement at the lowest cost per tonne of greenhouse gas emissions.
It's a plan that marks a clean break with the status quo and it's a plan that balances a healthy environment with a healthy economy
The Carbon Trust appears to be a model similar to the Australian Emissions Reduction Fund to combat climate change. This system provides businesses, farmers and landowners with taxpayer-funded incentives for them to adopt environmentally friendly practices and technologies, but critics say it has allowed a increase in emissions.
The climate plan will also establish an independent board that will work with the private sector to identify projects that can reduce emissions.
The province also plans to encourage greater use of electric vehicles, compressed natural gas in trucks and increased levels of ethanol in gasoline.
It will also undertake an badessment of the impacts of climate change on Ontario.
Under the Paris Agreement, targets were set to reduce emissions by 30% from 2005 levels by 2030. For Ontario, this would mean a reduction in emissions of at 143 megatonnes by 2030.
Phillips said that eight per cent of Ontario is reaching this goal.
"The plan we presented today is a reasonable and feasible approach to do so," he said.
The Paris Agreement commits to keeping the global average temperature rise below 2 degrees Celsius.
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