Carbon Market: Quebec will Hold Its First Sale by Mutual Agreement of Greenhouse Gas Emissions Units on October 3, 2018  

Québec, August 3, 2018. – The ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques (MDDELCC) announced today that a sale by mutual agreement will be held on October 3, 2018. 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 emissions 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 emissions units to cover their emissions before the end of each compliance period. For the 2015-2017 compliance period, these companies have until November 1, 2018 to submit admissible units required to cover their GHG emissions.

The publication of the Sale Notice, which includes the number of emissions units for sale, the prices per category, and application requirements, marks the beginning of the application period. The application period closes on September 4, 2018.

The Sale Notice is available on the MDDELCC’s website: http://www.mddelcc.gouv.qc.ca/changements/carbone/Ventes-gre-ministre-en.htm.

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