California and Quebec (Canada) are part of the same cap-and-trade system, aiming at reducing GHG emissions by 40% by 2030 (under their 1990 level). Their cap-and-trade has the largest coverage of all emission trading systems, with a price floor increasing every year. It’s been working well since 2013 – but hasn’t been tested hard since caps have been relatively high. Consumers didn’t notice so far the 10-15¢/gallon (2-4¢ per litre) they’ve been paying on their gasoline for its carbon content. With rapidly declining caps in the next 10 years, the real challenges are yet to come. This webinar will cover the key components of this carbon market, how it behaved until now and what to expect by 2030.
Speaker: Pierre-Oliver Pineau, Chair in Energy Sector Management, HEC Montreal