The carbon market: close to 1.2 billion dollars to fight climate change in Québec

Québec City, February 24, 2016 – “The carbon market clearly positions Québec’s economy for the 21^st century,” declared the Minister of Sustainable Development, Environment and the Fight against Climate Change, David Heurtel, following the disclosure of the results of the sixth carbon market auction held jointly with California on February 17. This sixth sale generated income in the order of 216 million dollars, bringing total income to date to close to 1.2 billion dollars.

“A true economic lever and spearhead in the fight against climate change, the carbon market is propelling us into a 21^st-century economy based on innovation and decarbonisation. One hundred percent of income generated by the auction sales is fully reinvested in the implementation of the 2013-2020 Climate Change Action Plan that aims to reduce our GHG emissions and to facilitate our adaptation to the consequences of climate change while helping to grow our economy,” stated Minister Heurtel.

The Secretary-General of the Organisation for Economic Co-operation and Development (OECD), Angel Gurría, has observed that the Québec-California carbon market is the only one of its kind that works in exemplary fashion.

Québec, as a leader in the fight against climate change, recently received the Carbon Pricing Champion Award for its exemplary commitment to carbon pricing, alongside Ontario.

As well, a New York Times editorial has affirmed Québec’s leadership and pioneer status in the fight against climate change, stating that Québec, whose actions that position it among the most active jurisdictions in North America deserve acclaim, is an example worth following.

“By 2020, in excess of 3.3 billion dollars will have been invested to support Québec companies, municipalities and private citizens in their transition to a low-carbon world. We need to begin this shift right now in order to ensure a better quality of life for all Quebecers of today and for the generations to come. Let’s do it for them!” reiterated Minister David Heurtel.

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Mylène Gaudreau

Press Officer

Cabinet of the Minister of Sustainable Development, Environment and the Fight against Climate Change

Media Relations

Ministère du Développement durable,

de l’Environnement et de la Lutte contre

les changements climatiques