Ontario publishes final cap-and-trade regulation, making final market tweaks
Ontario this week published its final cap-and-trade programme regulation, which cemented the scheme’s upcoming emissions caps to 2030 and aligned its other rules to those of California and Quebec.
Ontario has linked its carbon market to those in California and Quebec, and the trio are aiming to hold their first joint allowance auction in February 2018, which will see Ontario’s volumes combined with those of its WCI partners.
According to ClearBlue Markets, the Ontario environment ministry (MOECC) also made amendments to the regulation regarding verification report submission deadlines and to the methodology of distribution of free allowances to ensure the fair treatment of capped participants.
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