Carbon Market: Québec and California Hold 24^rd Joint Auction of Greenhouse Gas Emission Units Today

Québec, August 18, 2020. – A greenhouse gas emission units auction is being held today. The Ministère de l’Environnement et de la Lutte contre les changements climatiques (MELCC) will 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,
59,250,484 emission units for the Current Auction and 8,672,250 emission units for the Advance Auction (2023 vintage) will be put on sale at a minimum price of $22.03 CAD ($16.68 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 August 25, 2020 on the MELCC Web site.

Associated link:

• The August 18, 2020 Joint Auction #24 Notice is available at: www.environnement.gouv.qc.ca/changements/carbone/ventes-encheres/avis-resultats-en.htm.

- 30 -