Ontario’s second cap and trade auction set for today
Posted Jun 6, 2017 06:38:09 AM.
This article is more than 5 years old.
Ontario’s second auction in its new cap-and-trade system is set for today.
The system aimed at lowering greenhouse gas emissions puts caps on the amount of pollution companies in certain industries can emit.
If they exceed those limits, they must buy allowances at auction or from other companies that come in under their limits.
The first auction in March sold out of all current allowances, generating 472-million dollars.
The government plans to use cap-and-trade money for green initiatives such as social housing retrofits, an electric vehicle incentive program and public transit.
Add CityNews Kitchener as a trusted source on Google to see more local stories from us.
