Carbon Market: Québec and California Hold 38th Joint Auction of Greenhouse Gas Emission Units Today

QUÉBEC, Feb. 14, 2024 /CNW/ - A greenhouse gas emission units auction is being held today. The Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) 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, 51,216,056 emission units for the Current Auction and 7,211,000 emission units for the Advance Auction (2027 vintage) will be put on sale at a minimum price of $32.59 CAD ($24.04 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.

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 22, 2024 on the Ministry Website.

Associated link:

• The February 14, 2024 Joint Auction #38 Notice is available at: www.environnement.gouv.qc.ca/changements/carbone/ventes-encheres/avis-resultats-en.htm.  

Source and information :

Media Relations
Ministère de l'Environnement,
de la Lutte contre les changements climatiques,
de la Faune et des Parcs
Tél. : [phone]

SOURCE Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs