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Draft Regulation to amend the Regulation respecting a cap-and-trade system for greenhouse gas emission allowances

Public consultation from May 4 to June 18, 2022

In 2013, Québec set up a cap-and-trade system for greenhouse gas emission allowances (C&T system) to fight climate change. Its primary objective is to encourage companies and citizens to adopt low-carbon behaviours.

The Draft Regulation to amend the Regulation respecting a cap-and-trade system for greenhouse gas emission allowances (Draft Regulation) defines the rules for the allocation of emission units without charge for the 2024-2030 period in line with this approach. The new rules aim in particular to ensure a reduction in the global level of emission units without charge that is consistent with Québec’s climate objectives, to help maintain the competitiveness of the industrial sector and accelerate investments by businesses in their climate transition. The Draft Regulation also provides that a portion of the emission units resulting from the reduction of the level of emission units without charge be consigned, and that the sums resulting from the auction of these units be reserved on behalf of emitters to accelerate their investments in their climate transition. The proposed amendments also clarify the cap-and-trade system registration process and the terms of auctions and sales by mutual agreement by the Minister.

The Daft Regulation is published in the Gazette officielle du Québec for the 45-day public consultation period.

Additional information may be obtained by contacting:

Kim Ricard, directrice par intérim du marché du carbone
Direction du marché du carbone
Ministère de l’Environnement et de la Lutte contre les changements climatiques
kim.ricard@environnement.gouv.qc.ca

Parties interested in submitting comments on the draft regulation should submit them in writing by June 18, 2022, to:

Kim Ricard, directrice par intérim du marché du carbone
Direction du marché du carbone
Ministère de l’Environnement et de la Lutte contre les changements climatiques
kim.ricard@environnement.gouv.qc.ca

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