In a strong step toward internalizing the cost of GHG emissions, California and Quebec launched cap-and-trade carbon pricing schemes on January 1, 2013. The province and state intend to link the programs in 2013, and are waiting on a decision regarding programmatic equivalency from California Governor Jerry Brown.
The cap-and-trade programs complement a suite of carbon-reducing policies that are planned or in action in both jurisdictions. Through these actions, Quebec intends to reduce its GHGs to 25% below 1990 levels by 2020, while California aims to reach 1990 levels by 2020.
California and Quebec developed their programs under the collaborative umbrella of the Western Climate Initiative (WCI). Ontario, British Columbia and Manitoba are also WCI partners but have not advanced the necessary regulations for cap-and-trade.
By Cheryl Johnson, [email protected]