Results of Ontario’s Nov. 29th Carbon Market Auction

“We know climate change is already costing us with increased insurance rates, higher food costs, and more weather-related damage. This is a cross-border problem that requires international solutions. We know a linked carbon market with Quebec and California helps to find the cheapest greenhouse gas (GHG) pollution reductions for businesses no matter which jurisdiction they are in. This maximizes reductions at the lowest cost to people and businesses and allows us to keep meeting Ontario’s legislated pollution reduction targets.

The results of the November 29, 2017 carbon market auction show this plan is functioning as designed.

Every dollar collected, up to $1.9 billion a year, must by law be reinvested into projects that fight climate change. Whether for transit projects like GO Regional Express Rail, repairs to schools, hospitals and social housing, new bike lanes or energy-efficient home retrofits, Ontarians are already seeing investments that bring fairness and opportunity to our province while saving them money.

Compare this to Patrick Brown’s expensive new carbon tax scheme. Expert, independent analysis from EnviroEconomics reveals Brown’s scheme would cost almost twice as much, yet would be just one third as effective.  The analysis shows our plan will reduce GHGs by 82.2 MT by 2022 compared to just 28.8 MT under Brown’s new carbon tax. That means our plan takes the equivalent of 11 million more cars off the road than his scheme.

Patrick Brown is also hiding the fact that scrapping our cap on greenhouse gas pollution from business in favour of his expensive new carbon tax means cutting $6 billion in green investments that fight climate change.

This means under Patrick Brown, Ontario would no longer:

• Help hospitals reduce their energy costs and carbon footprint so they can focus their resources on supporting patients.
• Fund repairs and improvements to social housing across the province to improve living conditions while fighting climate change.
• Help homeowners improve their homes, cut their energy costs and reduce the amount of greenhouse gas pollution they produce.
• Support municipalities by investing in local projects that help improve their communities while reducing their energy use.
• Invest in cycling infrastructure to create healthier, safer commutes for people across the province, or
• Purchase electric school buses to give children a safe, cleaner transit option to and from school.

On top of this, Patrick Brown has promised another $6 billion in unspecified cuts, which could mean thousands of teachers and nurses fired and without a job. Ontario can’t afford a repeat of drastic cuts like those under the PC government of Mike Harris.  We cannot let Conservative cuts put these investments at risk.”