Carbon Credits from California may be Utilized in the Quebec Market

Published on May 8, 2013 at 8:14 AM KCET, the USA’s largest independent public television station reports that a deal that has been reached wherein “greenhouse gas emission allowances acquired as part of California’s cap and trade auction program can soon be traded along with those issued under a similar program in the Canadian province of Quebec.” 1 According to this report the carbon emissions markets in California and Quebec will essentially merge, commencing January 1, 2014. The report further states that the “emissions credits purchased in California will be able to be used to offset greenhouse gas emissions in Quebec, and vice versa.” “The Board’s action today broadens the environmental impact of California’s cap-and-trade program and helps fight climate change by reducing greenhouse gases,” said CARB Chair Mary D. Nichols in a press release. “California retains absolute control over its own program, and the larger carbon market overall provides additional options for California businesses.” 2 This comes at a time where the “concentration of carbon dioxide in the atmosphere has reached 399.72 parts per million (ppm) and is likely to pass the symbolically important 400ppm level” 3 as reported by John Vidal of the Guardian. Ralph Keeling, a geologist with the Scripps Institution of Oceanography, states that “I wish it weren’t true but it looks like the world is going to blow through the 400ppm level without losing a beat. At this pace we’ll hit 450ppm within a few decades.” The Guardian reports that “The 400ppm threshold is a sobering milestone, and should serve as a wake up call for all of us to support clean energy technology and reduce emissions of greenhouse gases, before it’s too late for our children and grandchildren,” said Tim Lueker, an oceanographer and carbon cycle researcher with Scripps CO 2 Group. 1 http://www.kcet.org/news/rewire/climate-change/california-carbon-credits-will-soon-be-good-in-quebec.html 2 Ibid. 3 http://www.guardian.co.uk/environment/2013/apr/29/global-carbon-dioxide-levels Source: http://www.bluforest.com/ Taylor Scott International