Quebec and California Link Carbon Markets

On October 1, the governments of Quebec and California announced an agreement outlining the steps and procedures to fully harmonize and integrate the cap-and-trade programs of their two jurisdictions, effective January 1, 2014. It is hoped that this will be a model for more such partnerships. “The sale of emission allowances will generate at least $ 2.5 billion in revenue by 2020 in Quebec. These funds will be fully reinvested in initiatives to fight climate change, including facilitating the conversion to renewable energy, promoting energy efficiency, improving industrial processes and preparing Quebec society to adapt to the impacts of climate change. The electrification of transportation is another major project on which our government will labour over the coming months”, said Minister Yves-François Blanchet. See the Quebec government press release at: http://communiques.gouv.qc.ca/gouvqc/communiques/GPQE/Octobre2013/01/c6398.html, and “Carbon Market: Quebec and California Link Their Respective Cap And Trade Programs” (Oct. 1) in GlobeAdvisor at:https://secure.globeadvisor.com/servlet/ArticleNews/story/CNW/20131001/C6398

 

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