(Quebec) Quebec no longer has hope of expanding the Carbon Exchange with several other partners.
Only Washington State could join in the near future the Cap and Trade System for Emission Rights (SPEDE) set up by Quebec and California.
This was indicated by the Minister of the Environment, Benoit Charette, who met with American partners last week on this subject.
“A few years ago, honestly, it was a bit of my obsession, to seek new memberships, but that is no longer the case, the current formula suits us,” he admitted in the scrum of press Thursday morning.
According to him, the carbon market has reached a balance and the arrival of several new players could bring down the price of the ton of carbon dioxide equivalent that Quebec and Californian companies currently transact.
He is banking on the possible membership of the State of Washington, which will decide by referendum on this issue on the day of the American presidential election.
Ontario joined the carbon market, then withdrew in 2018. Manitoba also announced its intention to join the SPEDE in 2015, but backed out.