Jacques Papy
Abstract
This article offers a critical examination of Ontario’s brief participation and sudden departure from the Western Climate Initiative (WCI) common carbon market in 2018. It reviews the mechanisms of cooperation within the WCI framework and the legal repercussions of Ontario’s withdrawal. Finally, it draws insights into the dynamics of the WCI cooperative model, highlighting its resilience but also its vulnerability to regulatory risks, which can undermine the stability of the common carbon market. The study concludes that clear procedural rules and compensatory mechanisms would help mitigate regulatory unpredictability.