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Plans for a carbon market in Quebec: Equiterre applauds environment minister for moving forward with draft regulation

Montreal, July 6, 2011– Equiterre commends Minister Arcand’s decision to move forward with a draft regulation for the implementation of a carbon cap-and-trade system in Quebec as part of the Western Climate Initiative (WCI).

“Quebec continues to show leadership on climate change with this regulation. It is one of the first governments in North America to progress on this issue,” said Steven Guilbeault, deputy executive director of Equiterre.

Quebec, California and British Columbia will launch their systems in 2012, while other provinces and states (New Mexico, Arizona, Manitoba, Ontario, etc.) will enter the WCI beginning in 2013. In the absence of clear leadership from either Ottawa or Washington, it is heartening to see so many provinces and states deciding to move forward.

“The Quebec system provides both great flexibility for companies – using a relative GHG reduction system for each factory – at the same time as it is binding, requiring an absolute amount of reductions for each company as whole,” explains Mr. Guilbeault. “Quebec’s participation in the WCI will promote energy efficiency, reduce oil consumption and boost our emerging clean energy industry.

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Eveline Trudel-Fugère