California, Quebec, Ontario Ink Deal to Join Carbon Markets

California, Quebec, and Ontario cemented plans Sept. 22 to launch North America’s largest carbon allowance market next year.

The agreement officially links three individual cap-and-trade programs, creating “an expanded and dynamic carbon market, which will drive down greenhouse gas emissions,” California Gov. Jerry Brown (D) said in a written statement.

Ontario’s integration with the existing California-Quebec market has been planned for some time. The agreement establishes the framework and terms for the new, larger market and outlines a process for other states and provincial governments to join the market.

“The linkage expands the allowance market significantly,” California Air ...