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Quebec to launch new carbon market in January

Actu - Marché carbone

Quebec continues to outshine Ottawa in the fight against climate change with its announcement that its new cap-and-trade system for greenhouse gas (GHG) emissions will come into effect in January 2012.

Quebec and California are the first two governments to introduce this type of regulation under the Western Climate Initiative (WCI).

Unlike the federal government, which announced last week that it is withdrawing from the Kyoto Protocol, Quebec remains focused on its efforts to reduce emissions by 20% below 1990 levels by 2020 – an ambitious target, especially given that Quebec already has a 50%-lower per-capita emission rate than the rest of Canada.