I am an outlier, being a fan of cap and trade which will likely never come back to Ontario at this point. Not a fan of carbon taxes which is being heralded as the great answer by many groups and political parties. I would definitely take regulations (properly administered) over carbon taxes.
Cap and trade had/has issues but it was having a positive effect and now we are losing valuable time debating what is best again.
Analyzing the effectiveness can be tricky, for sure. So many competing interests, studies and politics.
If regulation is the biggest bang, so be it but I'm not convinced that alone is the answer, esp regarding the transportation sector.
Regulation has good long term benefits but I feel we need to be doing something immediately and some regulations wouldn't start having an effect (such as building code improvements, when passed) for some time.
We should be mandating a phase-out of fossil fuels for transportation by a certain date but that's not going to happen in Ontario under the PC's.
I also worry that with regulations, some polluters will take their business (problem) elsewhere which then has no effect on global warming. Unless you mitigate their involvement but then that compromises things.
I believe a comprehensive plan would be ideal and one that engages people to make changes in how/where they live (net zero homes) and move about (EV's), along with stricter regulations.
However I'm no expert in these matters, just frustrated that so little is being done...