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newsrel -- Québec and California announce plans for joint auction of greenhouse gas emission allowances

Posted: 03 Jun 2014 09:01:53
Please consider the following news release from the California
Air Resources Board: http://bit.ly/1l31Hb1


June 3, 2014



Dave Clegern
(916) 322-2990

SACRAMENTO - The California Air Resources Board (ARB) and the
ministère du Développement durable, de l’Environnement et de la
Lutte contre les changements climatiques (Ministry of Sustainable
Development, Environment and the Fight against Climate Change)
(MDDELCC) of Québec today announced plans to conduct a joint
practice auction for the California and Québec cap-and-trade
programs. A successful practice auction will pave the way to
holding the first joint auction of emission allowances by the two
programs in November 2014. 

Application for the practice auction will begin in the last week
of July, and the bidding window will be open one day during the
first week of August. All registered participants in the
California and Québec programs are eligible to participate in the
practice auction.  

During the practice auction, participants will test the updated
auction platform and become familiar with the new features that
support a joint auction, such as the handling of both Canadian
and U.S. currency. California and Québec officials will monitor
the practice auction simultaneously, testing and verifying joint
oversight and communication procedures. Following the practice
auction, the ARB and the MDDELCC will evaluate its performance to
confirm that all systems and procedures work properly.

California and Québec have each committed to timely and effective
action to reduce emissions of greenhouse gases (GHGs) that are
contributing to climate change. To achieve these emission
reductions, each jurisdiction is implementing a portfolio of
programs, including linked cap-and-trade programs. The linked
programs provide a working model for other states and provinces
that are seeking cost-effective approaches for enhancing economic
growth and innovation while reducing greenhouse gas emissions.


A notice for the practice auction will be published on the ARB
and MDDELCC websites in mid-July, and will include instructions
for how to apply for the practice auction. The notice for the
November auction will be provided 60 days prior to the auction,
as called for in the California and Québec program regulations.

The California and Québec cap-and-trade programs were linked as
of January 1, 2014, enabling compliance instruments (emission
allowances and offset credits) issued by either program to be
used for compliance with each program. Compliance instruments may
be transferred among participants in both programs using the
Compliance Instrument Tracking System Service (CITSS).  Holding a
joint auction is the next milestone for the two programs.


Marie-Catherine Leduc
Attachée de presse par intérim
Ministère du Développement durable, de l’Environnement et de la
Lutte contre les changements climatiques
Tél. : 418 521-3911	

Relations médias
Ministère du Développement durable, 
de l'Environnement et de la Lutte contre
les changements climatiques
Tél. : 418 521-3991


Dave Clegern
California Air Resources Board
(916) 322-2990

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