The trust replaces the previous Liberal regime’s cap-and-trade system, under which greenhouse gas emissions were capped and companies bought and traded permits to pollute. The provincial government re-invested the money from the transactions in green industries.
“The idea of recycling the cap-and-trade money back into industries in order to allow them to reduce emissions at the scale of billions of dollars a year is a relevant and reasonable approach to saying Ontario was going go after the clean tech market,” said Rand.
“Throwing 500 million bucks at it and over a number of years, it’s not a serious effort.”
And Rand says it will be more and more difficult to keep those green tech companies in Ontario.
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