Ontario Orders a 'Carbon Trust Fund' to Replace its Cap-and-Trade Program

"Ontario’s new climate change plan creates a multi-million dollar “carbon trust fund” bankrolled by taxpayers to encourage investment in clean technologies and gives homeowners tips on preventing basement flooding," report Rob Ferguson and Robert Benzie.

"The province will commit $400 million to the fund over the next four years and bolster it with penalties paid by polluters to help leverage $1 billion in private-sector investment in commercially viable solutions to fighting greenhouse gas emissions," according to a source cited in the article.

In October, the financial accountability officer of Ontario released a report saying that ending the province's cap-and-trade program would cost $3 billion.