Environment & Energy Report

California, Quebec Have Best Emissions Auction Since Pandemic

Nov. 24, 2020, 10:17 PM

California and Quebec sold every greenhouse gas emission allowance during a joint cap-and-trade auction for the first time since the start of the coronavirus pandemic.

Participants bought all 56,366,432 current auction allowances for an auction settlement price of $16.93 (C$22.15), and all 8,672,250 advance auction allowances at a settlement price of $17.35, the California Air Resources Board said in release Tuesday.

  • The auction, held Nov. 17, generated about $190 million (C$247 million) in revenue for the Quebec government, the province’s Ministry for the Environment and the Fight Against Climate Change said in its release.
  • The two jurisdictions sold all the...

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