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The California Air Resources Board (CARB) and the Québec Ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP, the Québec Ministry of the Environment, the Fight against Climate Change, and of Wildlife and Parks) invites interested parties to participate in a public workshop on potential updates to the linked California Cap-and-Trade Program and Québec Cap-and-Trade System. Two modeling teams, one contracted by CARB and the other an internal team from the government of Québec, will present initial results from independent modeling efforts for allowance prices under different allowance budget scenarios. CARB and MELCCFP staff may also present information and concepts related to joint-market rules and cost-containment.
Date: November 16, 2023
Time: 9:30 a.m. – 12:30 p.m.
Location: Remote Only
Staff will request written feedback following the workshop through 11:59 p.m. Pacific Time on December 1, 2023. A link to submit written feedback will be posted to the Cap-and-Trade Meetings & Workshops webpage.
The workshop will be presented in English and French with live English-to-French and French-to-English interpretation. For other special accommodations or language needs please contact Camille Sultana no later than November 2.
Workshop Registration
This public workshop will be available via Zoom. Attendees will be able to ask questions or provide comments during the workshop. All attendees must register in advance. After registering, you will receive a confirmation email with information about how to access the workshop by computer or by telephone.
Market-Sensitive Information and Workshop Materials
Given the existing market and the fact that some topics may influence current market behavior, CARB will exercise due diligence to ensure all market influencing information is made available to all stakeholders at the same time. Workshop materials will be posted at 1:30 p.m. on November 15 to the Cap-and-Trade Meetings & Workshops webpage.
Cap-and-Trade Background
CARB first formally adopted the Cap-and-Trade Regulation in October 2011. The Board adopted amendments to the Regulation in June 2012, October 2013, April 2014, September 2014, June 2015, July 2017, March 2018, and December 2018. The California Cap-and-Trade Program and Québec Cap-and-Trade System have participated in a linked carbon market since January 2014. In 2017, AB 398 was passed by a supermajority in the Legislature and included prescriptive direction on the design of the program from 2021 through 2030. The Cap-and-Trade Regulation establishes a declining limit on major sources of GHG emissions throughout California, and it creates a powerful economic incentive for significant investment in cleaner, more efficient technologies. The regulation is one of the measures adopted by CARB, pursuant to Health and Safety Code Sections 38500-38599 (AB 32) to reduce California’s greenhouse gas emissions and advance the State’s climate goals. It complements other measures to ensure that California cost-effectively meets its goals for GHG emissions reductions.
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