QC: California and Québec joined joint cap-and-trade emissions units auction on May 19, 2021
The Ministère de l'Environnement et de la Lutte contre les changements climatiques and the California Air Ressources Board joined the joint carbon market auction on May 19, 2021.
In total, 71,647,138 emission units for the Current Auction and 8,306,250 emission units for the Advance Auction (2024 vintage) were put on sale at a minimum price of $21.34 CAD ($17.71 USD). Bidders from Québec and California were able to submit bids for the purchase of emission units, enabling them to reach their environmental objectives set under their respective greenhouse gas cap-and-trade systems.
The publication of the Auction Notice, which includes the number of emissions units for sale, minimum prices and application requirements, marked the beginning of the application period. For more information on Québec’s cap and trade program, visit the MELCC website.