Carbon Market: Quebec will Hold a Sale by Mutual Agreement of Greenhouse Gas Emission Units on September 26, 2024

QUÉBEC, July 26, 2024 /CNW/ - The ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) announced today that a sale by mutual agreement will be held on September 26, 2024. This sale, as provided for in the Regulation respecting a cap-and-trade system for greenhouse gas emission allowances, is meant to offer an additional alternative to emitters who might otherwise experience difficulty in obtaining necessary emission units to meet their compliance requirements to do so.

Within the carbon market, companies subject to the cap-and-trade system must acquire an amount of emission allowances to cover their emissions before the end of each compliance period. For the 2021-2023 compliance period, these companies have until November 1^st, 2024 to submit admissible allowances required to cover their GHG emissions.

The publication of the Sale Notice, which includes the number of emission units for sale, the price per category, and application requirements, marks the beginning of the application period. The application period closes on August 26, 2024.

Associated link:

• The Sale Notice is available on the MELCCFP's website: https://www.environnement.gouv.qc.ca/changements/carbone/Avis-ventes-gre-gre-en.htm.

Source and information 

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

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