sfgate.com; by David R. Baker; Thursday, May 10, 2012:California may not have to go it alone on cap-and-trade after all.
Under rules proposed Wednesday by state regulators, the Canadian province of Quebec will link its cap-and-trade system to California’s in November. The joint market will allow businesses in both California and Quebec to trade permits to emit the greenhouse gases behind global warming.
California officials who have spent years developing a carbon market have always hoped to include other states and provinces. But most of California’s potential partners have either dropped the idea or dragged their feet. And hopes of a national cap-and-trade system faded after climate-change legislation died in Congress in 2010.
“Linking with Quebec is a significant advance in California’s efforts to fight climate change and steer our economy toward a clean energy future,” said Mary Nichols, chairwoman of the California Air Resources Board. “Linking provides more options to California businesses and lays the groundwork for other partners to join with us.”