On January 1, 2014, California’s Cap-and-Trade Program and Quebec’s Cap-and-Trade System officially linked, allowing Quebec-issued and California-issued offsets and allowances to be completely interchangeable. As a part of the linked programs, the California Air Resources Board (ARB) and Québec’s ministère du Développement durable, de l’Environnement et de la Lutte contre les changements climatiques (Ministry of Sustainable Development, the Environment and the Fight against Climate Change) (MDDELCC) will hold joint GHG allowance auctions to allow market participants to acquire GHG allowances. On June 3, California and Quebec announced a practice auction to be held on August 7. The Auction Notice will be posted on July 29. A successful practice auction will pave the way to the two agencies holding the first joint auction of allowances in November 2014.
All information on the joint auctions can be found on the ARB Cap-and-Trade website.