Quebec cap-and-trade revenues exceed $3 billion as carbon market withstands ontario withdrawal


“A new infusion of C$215 million has pushed Quebec’s cumulative carbon cap-and-trade revenues above the $3 billion mark, at just the moment when Ontario has cancelled its carbon pricing program and Alberta’s Jason Kenney is vowing to do the same if he wins the provincial election later this year.
Two key decisions contributed to that stability, CBC notes: the participating governments gave themselves authority to set the minimum price for a carbon credit, rather than leaving it up to market forces, and to take unsold credits out of the market rather than letting the supply exceed demand.”
An excerpt from The Energy Mix