Ontario’s Minister of Energy (the Minister) today announced the release of the province’s “Powering Ontario’s Growth” plan (the Plan). The Plan outlines the actions Ontario expects to take to meet increasing demand for electricity supported by strong economic growth and electrification over the next two decades. The Plan notes that Ontario may need to increase its electricity generating capacity from the current 42,000 MW to 88,000 MW by 2050, in addition to replacing 20,000 MW of generation capacity over the same time period. This bulletin briefly highlights Ontario’s planned actions.   Current actions. The Plan provides the following actions that Ontario is currently undertaking to meet increasing demand: Nuclear Energy. Ontario in continuing work on the refurbishment of the Darlington and Bruce Nuclear Generating Stations, which together will secure 10,050 MW of generation capacity. In addition, Ontario is supporting the continued operation of the Pickering Nuclear Generations Station and has directed Ontario Power Generation (OPG) to update its feasibility assessment for the refurbishment of Pickering “B” to continue operating beyond 2026. Competitive Procurements for New Build Electricity Generation and Storage. The Minister has directed the Independent Electricity System Operator (IESO) to acquire 4,000 MW of new electricity generation and storage resources through competitive procurements, targeting 2,500 MW of stand-alone energy storage resources and a maximum of 1,500 MW of natural gas generation. Energy Efficiency Program Enhancements. Ontario has increased funding for energy-efficiency programs by $34M, bringing total funding to more than $1B over the current 2021-2024 Conservation and Demand Management framework period. Re-Contracting Ontario’s Small Hydroelectric Stations. The Minister has asked the IESO to design a Small Hydro Program to recontract existing facilities whose current agreements are coming to an end. Transmission Expansion. Ontario has issued an Order-in-Council declaring three transmission line projects in London, Windsor, and Sarnia as provincial priorities, streamlining the regulatory approval…

The Voluntary Carbon Market Integrity Initiative (VCMI) today launched its Claims Code of Practice (the Code). The purpose of the Code is to provide clear guidance to companies and other non-state actors on when and how they can credibly make voluntary use of carbon credits as part of their net-zero commitments and climate mitigation strategies, and the claims they can make about that use (see our earlier bulletin here). The Code is expected to have a significant influence on best practices for claims and disclosures on the demand side of the voluntary carbon market. The Code follows a four-step process briefly summarized below that companies can choose to follow to make credible, voluntary use of carbon credits and receive validation in the form of a “VCMI Claim”. 1. Comply with the Foundational Criteria. The Code provides that before a company makes voluntary use of carbon credits (i.e., making a VCMI Claim), the company must adhere to the following four foundational criteria: Maintain and publicly disclose an annual greenhouse gas emissions inventory. Set and publicly disclose validated science-based near-term emissions reduction targets, and publicly commit to reaching net zero emissions no later than 2050. Demonstrate that the company is on-track towards meeting a near-term emissions reduction target and minimizing cumulative emissions over the target period. Demonstrate that the company’s public policy advocacy supports the goals of the Paris Agreement and does not represent a barrier to ambitious climate regulation. 2. Select a VCMI Claim to make. The Code outlines three tiers of enterprise-wide claims and requirements (silver, gold, platinum) that are intended to be aligned with the Science Based Targets initiative (SBTi) and High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities, established by the UN Secretary-General, that companies must review and determine whether they are able to meet. The below table provides an overview of the three…