Results of the May 21, 2025 Québec and California Carbon Markets Auction
QUÉBEC, May 29, 2025 /CNW/ - The results of the 43rd greenhouse gas (GHG) emission units auction held jointly with the California Air Resources Board (CARB) on May 21 were released today.
During the sale, 43,865,000 current vintage emission units, including 77,507 Québec's consigned emission units, were sold for $36.05 CA ($25.87 US), and 6,847,750 2028 vintage emission units went for $36.44 CA ($26.15 US). For Québec, the sale generated gross revenues in the order of 230 million Canadian dollars that will be deposited into the Electrification and Climate Change Fund, which finances the measures of the 2030 Plan for a Green Economy, and 2,7 million Canadian dollars in revenue, under the emission unit consignment mechanism. These reserved amounts for eligible emitters will be used primarily to finance GHG emission reduction projects.
Quick facts:
To date, the carbon market has generated more than $10.3 billion in revenue for Québec, all of which is used to support Québec businesses, municipalities, institutions and citizens in their transition to a lower-carbon world.
The next auction will take place on August 20, 2025. An official notice will be posted on the Ministry's website 60 days prior to the auction, as required by regulation. The registration period will open on the same day.
Québec has adopted a GHG emissions reduction target of 37.5% below 1990 levels by 2030. As announced in the 2030 Plan for a Green Economy, the government intends to make a longer-term commitment to achieve carbon neutrality by 2050.
Associated links:
A summary of the results of the May 21, 2025 auction is available on the Ministry's website at: www.environnement.gouv.qc.ca/changements/carbone/ventes-encheres/avis-resultats-en.htm.
For more details on the payment from the funds determined and reserved for an emitter, see Projects eligible for payment from consigned funds.
Source and information
Media Relations
Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs
Tel.: 418 521-3991
SOURCE Ministère de l'Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs
View original content: http://www.newswire.ca/en/releases/archive/May2025/29/c3649.html
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
35 minutes ago
- Yahoo
Fight over lumber tariffs could reshape future of US home building
Lumber is in the spotlight as the National Association of Home Builders (NAHB) and the U.S. Lumber Coalition disagree over what's behind the U.S. housing market slump. FOX Business correspondent Kelly Saberi reported Monday that the NAHB has pointed to tariff uncertainty and lumber prices as being partly responsible. The U.S.'s current anti-dumping and anti-subsidy duty on imported Canadian softwood lumber stands at 14.5%. It could potentially climb later in the year to nearly 35%. Canada's softwood lumber makes up roughly 85% of America's imports and almost a quarter of the U.S. supply, according to the NAHB. "I share President Trump's desire to create fair and balanced trade across our borders, certainly would bring back as much production as we can," NAHB CEO Jim Tobin said. "But until we do that, and it will take years and millions of dollars of investment, we need to make sure that we have a reliable, affordable source of lumber." Saberi reported that the U.S. Lumber Coalition "says that the price of lumber says something different about this story." Read On The Fox Business App Between May 2021 and April of this year, the random lengths framing composite price decreased 67%, she reported. It stood at $442 per 1,000 board feet as of May 23, per the NAHB. Meanwhile, the price of new homes has gone up 21%, Saberi reported. "Everything from regulatory costs to the cost of land and, quite frankly, also the cost of home builder profitability rates that have gone up, those are actually the driving forces of home affordability," U.S. Lumber Coalition executive director Zoltan van Heyningen told FOX Business. "Lumber just isn't one of them." Click Here To Read More On Fox Business The U.S. Lumber Coalition has also been critical of Canada, saying that "ongoing unfair trade practices" by its lumber industry have been "extremely harmful to U.S. lumber producers, workers, and their forest-dependent communities." John Kalabich, the owner of Acme Lumber in Chicago, told Saberi he was able to keep prices relatively flat over the past 12 months because of the duty on Canadian lumber. He has also heard from contractors that the demand for small repair work and big-ticket construction has gone down. Trump Issues Executive Orders Addressing Lumber Production, National Security Concerns Last month, the U.S. Census Bureau said single-family housing starts suffered a 2.1% decline from March to a seasonally adjusted annual rate of 927,000 in April. Sales of new single-family homes in April came in at a seasonally adjusted rate of 743,000, while sales of existing ones were 3.63 article source: Fight over lumber tariffs could reshape future of US home building
Yahoo
41 minutes ago
- Yahoo
Canada to expedite nation building projects to counter Trump
Canadian Prime Minister Mark Carney said his government will start pushing legislation that would fast-track ambitious national projects to boost Canada's economy, now faced with Donald Trump's tariffs. Carney outlined his plan on Monday after a meeting - described as "very productive" - with the leaders of Canada's provinces and territories. "This has been the best meeting we've had in 10 years," Ontario premier Doug Ford told reporters. Carney said his plan is to narrow down a list of so-called "nation building" projects - like pipelines, nuclear reactors and trade corridors - and create a framework in which the projects would be approved in under two years' time. The goal, he said, is to quickly build infrastructure that will make Canada "the strongest economy in the G7," as well as strengthen the country's autonomy and resilience in the future. "This meeting demonstrated how we can give ourselves far more than any foreign government can take away," Carney told reporters. Monday's meeting marked Carney's first with Canada's premiers since his federal election win in April. He had campaigned heavily on bolstering the country's economy to counter tariff threats from the US, with whom Canada does the bulk of its trade. President Trump has imposed tariffs on Canadian steel, aluminium and its auto sector, and said he plans to double levies on steel and aluminium to 50%, starting on Wednesday to "further secure the steel industry in the United States." Carney called the latest tariffs "unjustified and unlawful". He added that Canada's minister for US-Canada trade Dominic LeBlanc will be travelling to the US on Monday evening to resume trade talks. In the meantime, Carney said his government will focus on "projects of national interest" to help Canada sell its resources in more markets, strengthen its security and reduce reliance on other nations. These projects can come from provinces or the private sector, and must meet a criteria that includes offering "undeniable benefit" to Canada's economy and having "a high likelihood" of being built successfully. They also must be environmentally clean and sustainable, and a high priority for Canada's indigenous communities, Carney said. They can include anything from highways, railways, ports, airports, pipelines, nuclear projects, clean energy projects and electric transmission lines. Another priority, Carney said, is building infrastructure in the Arctic to secure the territory and cement Canada's sovereignty in the region - where other nations, including China, Russia and the US, are fighting for dominance. Some provinces already have submitted proposals, but Carney did not indicate which, if any, would be greenlit. The premiers - including Alberta's Danielle Smith, who had been highly critical of former Prime Minister Justin Trudeau - appeared unified after their first meeting with Carney. Ford said there was "great collaboration" between all leaders, while Smith said she was "encouraged" by Carney's agenda. But questions remain on whether provinces will find common ground on more contentious projects, like oil and gas pipelines. First Nations leaders also have expressed concern about Carney's plan, saying they fear it will side-step their land and water rights, and have asked for more clarity on how they will be involved. US to double tariffs on steel and aluminium imports to 50%, Trump says Canada will deal with Trump 'on our terms', Carney tells BBC Faisal Islam: Carney wants to lead a G7 fightback on Trump tariffs
Yahoo
an hour ago
- Yahoo
Aiming a blow at narcos, Colombia pays farmers to uproot coca
With cocaine production at an all-time high, Colombia's government is testing a pacific approach to its narcotics problem: paying farmers to uproot crops of coca, the drug's main ingredient. Among the beneficiaries are Alirio Caicedo and his son Nicolas, who a decade ago planted an expanse of coca as they staked their future on the continued patronage of criminal gangs. Today, they are uprooting the crops and hoping for the best. The Caicedos and some 4,000 other Colombian families have entered into a pact with the government to replace their coca with alternative crops such as cocoa and coffee. It is part of a $14.4 million project to reduce supply of a product blamed for untold misery in a country where armed groups force rural communities to grow coca and raze forests for its cultivation. The project seeks to eradicate coca production on 45,000 hectares in three of Colombia's most conflict-riddled regions, including the southwestern Micay Canyon where the Caicedos ply their trade in the Argelia municipality. For farmers it is a risk. They cannot be sure that their new plantations -- coffee in the Caicedos' case -- will succeed, or that guerrillas and other groups whose income depend on cocaine sales will leave them in peace. "When one is planting a coca plant, there is hope that in time... there will be a harvest and there will be some income," Nicolas Caicedo, 44, told AFP while he and his dad, 77, shoveled and tugged at the remaining coca shrubs on their property. "Uprooting the plants means that... there will be no more harvests -— in other words, no more money," from coca at least. With coca, the Caicedos said they were guaranteed an income of about $800 per month. They have received an initial payment of about $300 under the project to grow coffee, with more to come. But another farmer, who spoke to AFP on condition of anonymity, said he doubted the project could work in areas such as Argelia where illegal groups outnumber the state in terms of fighters and guns. "No armed group that lives off (coca) is going to want a farmer to stop growing coca and switch to coffee," he said. - 'Naive' - Gustavo Petro, Colombia's first-ever leftist president, took office in 2022 with the goal of extricating his country from the US-led "war on drugs" blamed for double-victimization of rural Colombians already living under the yoke of violent criminal groups. On his watch, cocaine production in Colombia -- the world's biggest exporter of the drug -- reached record levels as demand continues to grow in Europe and the United States -- the principal consumer. Several previous attempts to get Colombian coca producers to change crops have failed as armed groups caused havoc and government payments and other assistance eventually dried up. For Gloria Miranda, head of Colombia's illegal crop substitution program, told AFP would be naive to think this new program will end drug trafficking "as long as there is a market of 20 million consumers and it (cocaine) remains illegal." In his stated quest for "total peace," Petro has sought to negotiate with a variety of armed groups, meaning fewer military operations and the abandonment of forced coca eradication. But talks have mostly broken down, and the arrival of Donald Trump in the White House in January has ramped up pressure on Bogota. The Trump administration is reviewing Colombia's certification as an ally in the fight against drugs -- a move that could restrict millions of dollars in military aid. With high stakes for its crop replacement gamble, observers fear the government may be taken advantage of. Some farmers may "try to deceive" by taking the money while continuing to grow coca, Argelia government secretary Pablo Daza told AFP. Without adequate monitoring, "the chances are quite high that we are wasting money," added Emilio Archila, who oversaw a similar, failed, project under former President Ivan Duque. Miranda assures there will be "meticulous" satellite monitoring, and anyone found not to be complying will be expelled from the program. Used not only for cocaine, the coca leaf is also chewed as a stimulant in Andean countries or brewed into a tea thought to combat altitude sickness. Colombia's appeals for the leaf to be removed from a UN list of harmful narcotics so it can be commercialized in alternative products such as fertilizers or beverages, have so far fallen on deaf ears. das/als/mr/mlr/dw
