The California Air Resources Board (CARB) has published carbon dioxide emissions trading training materials for the program run jointly by CARB and its counterpart agency in Ontario, Canada.
The materials for the program run by CARB and the Ministry of Sustainable Development, Environment and the Fight against Climate Change in Quebec were published Jan. 7.
On Jan1 1, 2014, the California Cap-and-Trade Program and Québec Cap-and-Trade System officially linked, enabling the mutual acceptance of compliance instruments issued by each jurisdiction to be used for compliance with each program.
As a result of the linked jurisdiction programs, California (CA) and Québec (QC) will hold joint greenhouse gas (GHG) allowance auctions to allow market participants to acquire GHG allowances.
Auction notices are posted to the jurisdiction webpages 60 days prior to each auction. The Auction Reserve Price will be determined as the higher of the California or Québec Annual Auction Reserve Prices after applying the established Auction Exchange Rate, according to the materials.
The price is displayed in both U.S. and Canadian dollars.