The MECP has currently proposed a new Greenhouse gas (GHG) Framework for the Industrial Sector that will closely mirror the Federal output based pricings system (OBPS) GHG framework under the Greenhouse Gas Pollution Pricing Act.
Ontario's new Emissions Performance Standards (EPS) will aim to:
- Reduce greenhouse gas emissions
- Minimize carbon leakage
- Maintain Ontario's competitive market
Ontario is considering including the following methods in the EPS:
- Receiving compliance units as an incentive for performing better than the standard
- Voluntary emission reductions by others
- Payments to purchase compliance units from the government
Though this regulation is currently in a proposal phase, the new EPS would require reportable facilities to consider emissions from January 2019. Annual reports would be due in June each year and the facility would need to demonstrate compliance starting December 2020 for the calendar year of (Jan 2019- Dec 2019).
To provide your thoughts on this new framework, or to ask questions regarding this new framework, you must post your comments here by March 29, 2019.
If you have any questions or concerns about the changes noted above or require Trinity's assistance, please feel free to contact Suzy Sabanathan at (416) 391-2527 Ext. 22.