July 10, 2018
(Hamilton, Oakville, Ottawa, Toronto and Windsor) - The Urban Climate Alliance - a coalition of five city-level Ontario environmental organizations - has researched the potential impact of provincial withdrawal from cap-and-trade and found that cities are facing a massive funding gap. Hundreds of millions of dollars of cap-and-trade revenues have already been directed to projects in Hamilton, Oakville, Ottawa, Toronto and Windsor that will help fight climate change, with even more money anticipated for planned projects. In Ottawa alone, over $50 million was allocated to or anticipated for local projects. The province’s withdrawal from the cap-and-trade program, with no clear alternative funding stream identified, threatens to derail municipal climate progress across Ontario.
