QuÃ©bec, February 17, 2016 â€“ The MinistÃ¨re du DÃ©veloppement durable, de lâ€™Environnement et de la Lutte contre les changements climatiques (MDDELCC), in conjunction with the California Air Resources Board (CARB), will hold a greenhouse gas emission units joint auction today. This is the sixth joint auction held since their respective carbon markets were linked on January 1, 2014.
The joint auction will take place between 1 p.m. and 4 p.m. In all, 71,555,827 emission units for the Current Auction and 10,078,750 emission units for the Advance Auction (2019 vintage) will be put on sale at a minimum price of $17.64 CAD ($12.73 USD). Bidders from both QuÃ©bec and California will be able to submit bids for the purchase of emission units, enabling them to reach their environmental objectives set under the greenhouse gas cap-and-trade system.
The results of the auction (the quantity of emission units sold and final prices) and the identities of participating bidders will be posted on February 24, 2016 on the MDDELCC Web site at http://www.mddelcc.gouv.qc.ca/changements/carbone/index-en.htm.
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