The $2 billion question : Two billion question

California requires cap-and-trade directly.6 proceeds from allowance auctions to be deposited into the Greenhouse Gas Reduction Fund and The rest will come from a combination of public reinvested to reduce climate pollution and benefit transportation growth, electric vehicle uptake, the economies, health and environment of the low-carbon fuel standards, energy efficiency state’s communities.10 In [...] In the last Quebec-California cap-and-trade auction, the price of carbon rose to just CA$16.10 per tonne.12 In the American northeast’s Regional Greenhouse Gas Initiative (RGGI), the price is US$6.02 per ton.13 At CA$30 per tonne, British Columbia has the highest carbon price in North America.14 When the price on carbon is too low on its own to drive sufficient emissions reductions, using its proc [...] The higher the price, the stronger the impact, but the question is: how high a price is realistic in Ontario in the short term? [...] And when it comes to making decisions as Ontario should invest the entirety of cap-and-trade to how exactly to reinvest the revenues for maximum revenues on a single initiative in just one sector of the impact, it’s important to ensure that the proceeds are economy. [...] Investments in energy efficiency from RGGI revenue created over $2.6 billion in economic gains and generated 28,500 job-years of direct and indirect employment in the first six years of operation.51 The $2 Billion Question: How can Ontario reinvest Cap-and-Trade Environmental Defence Canada Proceeds to meet its Climate Challenge and Grow the Economy?