Minister Blanchet announces the linkage of Québec and California’s carbon markets
Minister Yves-François Blanchet
On Tuesday at the Carbon Forum North America 2013 in Washington, DC, Yves-François Blanchet, the Minister of Sustainable Development, Environment, Wildlife and Parks, announced the signing of an agreement to formalize the linkage of Québec and California’s cap and trade and greenhouse gas emissions exchange systems beginning January 1, 2014.
In an address as a distinguished speaker before over 150 leaders of businesses, industries and governments concerned about these issues, Mr. Blanchet emphasized the benefits associated with the agreement with California, which will make it possible to create the largest carbon market in North America.
“The sale of emission rights will generate revenues of the order of $2.5 billion by 2020 in Québec. All these revenues will be entirely reinvested in climate change initiatives, notably to facilitate the conversion to renewable energies and to promote energy efficiency,” said Minister Yves-François Blanchet.
With this agreement, Québec and California are also appealing to American states and Canadian provinces seeking an effective solution for reducing their GHG emissions and are inviting them to joint this new North American carbon market.
Ministère du Développement durable, de l’Environnement, de la Faune et des Parcs (in French)
International Emissions Trading Association
Center for Climate and Energy solutions