Sustainable Prosperity welcomes the opportunity to comment on Ontario’s Greenhouse Gas (GHG) Emissions Reductions Program, and commends Ontario for its commitment to public engagement and consultation on an issue of critical importance to its economic and environmental prosperity.

Climate change presents a unique challenge for policy-makers: it is the greatest and widest- ranging market failure ever seen.1 At the same time, it presents a unique opportunity: the core policy response to this market failure, carbon pricing, also generates a new stream of revenue to government and supports the shift to a low-carbon economy, critical for economic success in an increasingly carbon-constrained future.