Ontario plans to link its cap-and-trade system with a joint Quebec-California market next year. The most recent Quebec-California joint cap-and-trade auction saw just 18 per cent of allowances sold, with previous results of 88 per cent, 35 per cent and 11 per cent. Prime Minister Justin Trudeau has said all provinces must set up a cap-and-trade system or impose a price on carbon of at least $10 per tonne starting next year. Provinces without a carbon tax or cap-and-trade system are weighing their options and some say they will be closely watching Ontario’s results. Newfoundland and Labrador will watch what happens in Ontario and may consider a cap-and-trade system in the future, said Perry Trimper, the minister responsible for the office of Climate Change.

Source: thestar March 21, 2017 23:11 UTC