12:25 GMT +321 January 2020
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    Canada’s province of Ontario has passed a legislation to create specific pollution limits for industries intended to help fight climate change, local media reported on Wednesday.

    WASHINGTON (Sputnik) — The new cap-and-trade regulation will increase heating bills by $5 a month, and add 4.3 cents to gasoline prices, Canadian Press reported.

    The first auction of pollution credits, which is likely to raise $1.9 billion a year, will take place in 2017, according to media reports.

    In April, more than 160 countries signed a climate agreement in Paris, France under the auspices of the United Nations. The agreement seeks to curb global warming by limiting global average temperatures to less than 2 degrees Celsius above pre-industrial levels.


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