Poll finds majority of Ontarians do not like the idea of the Cap and Trade system if they have to pay $13 or more on their monthly energy bill.
The Cap and Trade Initiative allows companies to receive an allotment of credits issued by the Province which allows the company to pollute so much. So if you want to pollute more, you have to buy credits from other companies that aren’t using them.
The idea is to cap the total amount of emissions and make it more expensive for companies to emit carbon dioxide.
People are concerned that there are possible faults with this system that could potentially lead to corruption. For example if industries are not performing well, leading to low economic activity, chances are, the Cap and Trade system could fail altogether.
“If we as a society want to deal with reducing greenhouse gas emissions, we need to put a price on it.” – Ben Dachis
Ben Dachis, Associate Director of Research at the C.D. Howe Institute, joins Tasha Kheiriddin on the show to discuss the pros and cons of the Cap and Trade system.