ONTARIO RELEASES ‘CAP & TRADE’ PROGRAM
Yesterday, Ontario Premier Kathleen Wynne and several prominent members of her Cabinet unveiled the province’s proposed ‘cap and trade’ program. Shortly after the announcement, the Ontario Chamber of Commerce (OCC) convened a teleconference with its members (including the Flamborough Chamber of Commerce – FCC) to consider a response. There’s no question, the proposed program will have a significant impact on Ontario businesses.
In the coming days, the OCC and its provincial network will review the Climate Change Action Plan and engage businesses broadly to ensure Ontario’s competitive advantage is protected now and into the future.
In particular, participants will be investigating the potential differential impacts of the Plan for different sectors of the economy. As part of this process, FCC members are encouraged to review the Plan with an eye to implications for their own business and provide that feedback through the FCC to the OCC. This feedback will shape the OCC’s advocacy.
To view the plan, please click HERE.
In reviewing the plan, FCC members are encouraged to consider the following questions:
– Based on what you have read, what are your general impressions?
– Do you see any opportunities for your business/sector in this Plan? Are there any risks and/or threats?
– Are there outstanding questions that you ask of government?
The OCC feels the most relevant sections of the Plan for the business community are “Action area – Industry and business” and “Action area – Research and development”.
The FCC/OCC urges members to consider the following:
– At such a pivotal moment in Ontario’s recovery, we need to make sure that any plan with such wide-reaching implications is able to support and not hinder Ontario’s competitiveness and the ability of businesses to grow and create jobs.
– With the release of the Climate Change Action Plan, the Government of Ontario has outlined its approach to spending revenues generated from cap and trade. It’s an ambitious plan, totalling between $6 billion to $8 billion in spending to 2020.
– The sweeping changes included in this plan will incentivize new social habits and have a profound impact on Ontario’s economy.