NOBLETON, Ont. – The expected Ontario Climate Change Plan is committed to meeting the Paris agreement by 2030 through a number of measures, including the creation of a fund to support private investment in clean technologies and the introduction of performance standards for large issuers.
The progressive Conservative government plan revealed by Environment Minister Rod Phillips on Thursday shows that the province spent four million dollars on the Ontario Carbon Trust funded by taxpayers for four years to engage in a partnership with the private sector on green technologies.
It will also consult industry members to develop performance standards for large issuers.
"It's a plan that makes a clear move away from the status quo, and it's a plan that balances the health environment and a healthy economy," Phillips said. "Our plan encourages individuals, families and businesses to become more involved in our common environment while working on these common goals."
Phillips stressed that the plan, which will replace the previous system of human rights liberalization, will not save the price of carbon. Tories have repeatedly said during a spring election campaign that the carbon pricing system, a federal claim, makes family life unavailable.
The Ontario Carbon Trust will include a $ 50 million reverse auction that encourages businesses to bid for public contracts awarded on the basis of the lowest cost per tonne of greenhouse gas emissions.
It is a plan that makes a clean move away from the status quo and is a plan that balances the health environment and a healthy economy
The Carbon Trust appears to be similar to the Australian Climate Change Emission Reduction Fund. This system provides incentives for taxpayers to businesses, farmers and landowners to adopt environmentally friendly practices and technologies, but critics say they allow for emissions to grow.
The Climate Plan will also set up an independent board of directors to work with the private sector to identify projects that reduce emissions.
The province also plans to promote greater use of electric vehicles, compressed natural gas during transport and increased ethanol levels in petrol.
It will also carry out a climate impact assessment on Ontario.
According to the Paris Agreement, emission reduction targets were set 30 percent below 2005 levels by 2030. For Ontario, this would mean reducing emissions from 161 megatlanters to 143 megatonnes by 2030.
Phillips said Ontario is eight percent of that goal.
"The plan we have introduced today is a reasonable and attainable approach to that," he said.
The Paris Accord is committed to keeping the average global temperature below 2 degrees Celsius.