Carbon Market: Québec and California Hold 30th Joint Auction of Greenhouse Gas Emission Units Today
Québec, February 16, 2022. – A greenhouse gas emission units auction is being held today. The Ministère de l’Environnement et de la Lutte contre les changements climatiques (MELCC) will hold this auction in conjunction with the California Air Resources Board (CARB).
The joint auction will take place between 1 p.m. and 4 p.m. ET. In total,
58,527,697 emission units for the Current Auction and 7,942,750 emission units for the Advance Auction (2025 vintage) will be put on sale at a minimum price of $25.10 CAD ($19.70 USD). Bidders from Québec and California will be 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 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, 2022 on the MELCC Web site.