Gray E. Taylor: Lawyer with Bennett Jones LLP

Gray E. Taylor

Counsel, Co-Head of Climate Change and Emissions Trading
Toronto,  ON  Canada

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AV® Preeminent

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Practice Areas

  • Climate Change & Emissions Trading
  • Corporate Commercial Law
  • Environmental Law
  • Mergers & Acquisitions
Contact InfoTelephone: 416.777.5769
Fax: 416.863.1716
University University of Toronto, M.Ed., 1972
Law SchoolUniversity of Toronto, J.D., 1977
Admitted1979, Ontario; 2003, New York

Gray Taylor is co-leader of the firm's climate change and emission trading practice. His practice focuses on climate change and related corporate issues affecting businesses in Canada and abroad.

Gray acted on commercial arrangements and transactions in Canada, the U.S. and elsewhere in the world for over a decade and a half before turning to climate change and environmental issues. As a result, he brings an understanding of business realities, practices and goals to his climate change and emission trading practice.

Gray focuses on emissions trading transactions involving Emission Reduction Purchase Agreements and related financing and transactional documents for a broad range of Kyoto Protocol (CDM and JI), Alberta and other Canadian regulatory deals as well as North American and international voluntary carbon deals. He also advises on corporate governance and climate change business planning issues. Gray has acted on a number of complex transactions, such as representing the largest private sector participants in the World Bank US$1-billion Umbrella Carbon Fund transaction, and creating unique structures to facilitate participation by diverse entities in emission trading markets, including Natsource's Greenhouse Gas Credit Aggregation Buyers Pool and innovative arrangements related to voluntary environmental credit creation and trading.

Gray has been part of the development of climate change transactional law from the inception. He is one of six lawyers in the world listed as a climate change Band 1 practitioner by Chambers Global 2013 with the statement that he is active on climate change matters across Canada but also internationally, working on issues in jurisdictions as varied as China and Ecuador. Clients underscore his 'great insight and innovation' and his lengthy history in carbon transactions around the world and that he is universally acknowledged as the 'godfather of Canadian climate change law.' Earlier, he was identified by that publication as a father of the climate change industry and as being involved in all the major developments in Canada, with an exceptional international practice. Gray is also Chambers Band 1 in Canada for his environmental law practice.

Since 2012, Gray has been designated as an Accredited Director (Acc.Dir) by the Institute of Chartered Secretaries and Administrators. He recently was appointed to the Editorial Advisory Board of Cleantech Canada ( ). Gray is a past chair of the National Environmental, Energy and Resources Law Section of the Canadian Bar Association (CBA), a director of IETA, co-Chair of IETA's Canadian Working Group, a member of the Environmental Finance Advisory Committee, School of the Environment, University of Toronto and is recognized in Chambers Global and Lexpert. He is qualified to practice in Ontario and New York.


A tidal energy start-up on Canada's west coast, including shareholders agreements and corporate reorganizations.

News & Events

• Thoughts on Alberta, British Columbia and Saskatchewan Linking GHG Systems, Particularly at the Offsets Level
July 29, 2014

Gray Taylor presents, Thoughts on Alberta, British Columbia and Saskatchewan Linking GHG Systems, Particularly at the Offsets Level, in Regina, Saskatchewan.

• Green Bonds: Mobilizing Long-Term, Climate Change Capital: Real or an Illusion
May 26, 2014

Gray Taylor presents Considering Green Bonds: Some Key Elements at Green Bonds: Mobilizing Long-Term, Climate Change Capital: Real or an Illusion, Hyatt Regency, Toronto, Ontario.

• Climate Change Policy and Competitiveness
April 16, 2014

Jurisdictions are attempting to design and implement climate change policies in a manner that addresses economic competitiveness and prevents the relocation of affected industries (i.e., to jurisdictions with less onerous carbon requirements). Some existing carbon pricing programs in North America (e.g., California, Quebec, RGGI) and globally (e.g., EU) include mechanisms designed to deal with these competitiveness and leakage risks. Alternative mechanisms have also been proposed and analyzed, such as Border Carbon Adjustments (BCAs). This seminar reviewed and explored recent analyses and learnings from economic, legal and practical perspectives, towards reconciling the carbon pricing-competitiveness challenge. The event should be of interest to a broad range of policy makers, businesses, trade associations, and academics. This seminar was presented by IETA, Centre for European Policy Studies and Bennett Jones LLP.


•2014, The Legal 500: Canada
Gray E. Taylor , recognized as a leading lawyer in Environment

•2014, Canadian Legal Lexpert Directory
Gray E. Taylor , repeatedly recommended, Environmental Law

•2014, Chambers Global: The World's Leading Lawyers for Business
Gray E. Taylor , ranked, Climate Change


• Lessons (Good and Bad!) from the Alberta Oil Sands for Ontario Oil and Gas?
April 2014

Alberta's successes and failures in development of its oil sands resource may offer lessons for the expansion of Ontario's oil and gas industry. Here are some personal thoughts on those lessons. Published in OPI Newsletter, the Voice of the Ontario Oil and Natural Gas Industry.

• Private Sector Finance for Adaptation
November 12, 2013

This brief paper examines the pressing topic of engaging the private sector in adaptation financing. With few examples to draw from, the paper relies primarily on first principles and analogy to draw its conclusions. It is hoped that a year from now, such statements will not be needed. Published in IETA Greenhouse Gas Market 2013.

• All Things Being Equal
July 2013

Equivalency arrangements with respect to greenhouse gas (GHG) emissions control are being actively discussed by both the federal and provincial governments in Canada. Such arrangements can have validity as they are authorized by federal law and can avoid duplication of federal and provincial laws which are apparently equivalent. As is explained in more detail below, where an equivalency arrangement is in place between the federal government and a province with respect to an environmental regulation (in this case, a GHG emissions control regulation), the federal regulation is no longer applicable in that province. In the absence of an equivalency arrangement, constitutional law issues can arise; equivalency arrangements can avoid those issues. However, there are other techniques frequently used to avoid constitutional issues (indeed there is and has been only one equivalency arrangement in place in Canada, and that in a non-GHG emissions control field, and only one draft equivalency arrangement for climate change has been made public) and the courts are expert at resolving legislative conflicts between provinces and the federal government. As equivalency arrangements have their own inherent problems, including the loss of identical provisions across the country with resulting inefficiency for national or regional businesses, a careful review is appropriate before provinces and the federal government put equivalency arrangements in place.


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Office Information

Gray E. Taylor

3400 One First Canadian Place
TorontoON M5X 1A4


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