Quebec steps closer to forming cap-and-trade pact with California
Washington (Platts)–16Dec2011/446 pm EST/2146 GMT
Quebec’s adoption of greenhouse gas cap-and-trade regulations on Thursday moved the Canadian province a step closer to forming a regional program linked to California, according to Jeff King, Toronto-based head of environmental markets at Scotia Bank.
“This move confirms that Quebec intends to trade with California when the program starts,” he said in an interview.
Quebec and California must next harmonize their cap-and-trade regulations, and then sign recognition agreements to essentially form a single market, beginning in 2013, said a statement issued by Quebec’…