October 9, 2016 by Billy Hamshaw
(Source: the globe and mail) California is facing major questions about the future of its cap-and-trade program as business groups launched a lawsuit to invalidate the existing program. The uncertainty in the market – along with other factors – has contributed to weak demand for allowances purchased through auctions, putting Ontario, who plan to join the initiative, in a ‘rather curious position’ reports James Bushnell, an economist at University of California. However, Ontario Environment Minister Glen Murray said the provincial government remains confident that California will be a reliable partner in the cross-border carbon market and an important source of low-price emission credits that will keep Ontario costs down. Read full article…
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