A Québec-California carbon market joint auction is being held today
QUÉBEC, Feb. 20, 2019 /CNW Telbec/ - 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, 80,847,404 emission units for the Current Auction and 9,038,000 emission units for the Advance Auction (2022 vintage) will be put on sale at a minimum price of $20.68 CAD ($15.62 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 greenhouse gas cap-and-trade system.
Quick fact:
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 27, 2019 on the MELCC Web site.
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