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California-Quebec 2020 Carbon Auction Results In (Ind. Report)
California-Quebec Cap-and-Trade
Date: 2020-02-28
The Western Climate Initiative (WCI) is reporting the results of February's joint California-Quebec auction.

The auction raised roughly $600 million for the Greenhouse Gas Reduction Fund, which California will use for programs that further reduce climate and local air pollution and advance environmental equity.

Quebec raised over $240 million (Cdn) ($185 million) to support climate action in the province.

Western Climate Initiative Inc is a non-profit corporation formed to provide administrative and technical services to support the implementation of state and provincial greenhouse gas emissions trading programs. (Source: Western Climate Initiative, 26 Feb., 2020) Contact: Western Climate Initiative, www.wci-inc.org

More Low-Carbon Energy News Western Climate Initiative,  Cap-and-Trade,  


Quebec Carbon Market Revenue Exceeds $3Bn (Ind. Report)
Quebec Carbon Market
Date: 2019-03-01
In Quebec City, the Province of Quebec is reporting it raised $215 million at last week's auction of greenhouse gas emission credits that now total more than $3 billion. At last week's auction, roughly 80.9 million vintage credits were sold out at $20.82 each, and around $6 million in future credits were sold at $20.68 each. On the Quebec side, most of the buying was done by the roughly 150 companies required by provincial law to purchase one credit for every tonne of carbon dioxide they emit.

In Quebec, energy and industry produce a relatively small percentage of the province's overall emissions due primarily to the province's reliance on carbon-free hydroelectricity. The transport sector is responsible for more than 40 per cent of the province's carbon dioxide emissions, according to the most recent figures available. (Source: CBC, Various Media, 28 Feb., 2019)

More Low-Carbon Energy News Quebec Carbon Market,  Carbon Tax,  Carbon Market,  Western Climate Initiative ,  


NSP Snares Lion's Share of Free Cap-and-Trade Credits (Ind. Report)
Western Climate Initiative
Date: 2018-11-16
In Halifax, Nova Scotia's biggest polluter, Nova Scotia Power (NSP) will receive virtually one-half of the free credits available to companies participating in the province's cap-and-trade program which comes into law in January, 2019. Of the 13,683,000 free emission credits to be distributed at the government's whim, Nova Scotia Power will be handed 6,334,000, with the remaining credits being divided among almost two dozen other major emitters including: Lafarge Canada cement, Irving Oil and other gasoline importers, companies that produce or import furnace oil, as well as natural gas distributors.

According to the provincial government, the free credits equate to about 90 pct of Nova Scotia Power's needs.

The province has set a $20 per credit floor price for two annual auctions starting in 2020. The not-for-profit Western Climate Initiative will administer Nova Scotia's cap-and-trade system. (Source: CBC, Nova Scotia Minister of Environment, 13 Nov., 2018) Contact: Western Climate Initiative, www.westernclimateinitiative.org; Nova Scotia Department of Environment, Jason Hollett, Executive Director of Climate Change, (902) 424-3600, https://novascotia.ca/nse

More Low-Carbon Energy News Cap-and-Trade,  Nova Scotia Cap-and-Trade,  Carbon Emissions,  Western Climate Initiative,  

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