Exemplary performance of companies with almost 100% of emissions covered over the 2021-2023 period

QUEBEC, December 6, 2024 /CNW/ – The Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks (MELCCFP) today published the report on the fourth compliance period of the cap and trade system greenhouse gas emissions (SPEDE) covering the years 2021 to 2023.

A compliance period is a specific period during which companies subject to the cap-and-trade system must cover their greenhouse gas (GHG) emissions by surrendering to the government a number of emission allowances equal to the tonnes of emissions they generate. In Quebec, for the period 2021-2023, 134 of the 135 large emitters and distributors of fuels subject to these obligations have complied by returning the required emission rights. Thus, these companies have returned a total of 176.5 million emission quotas, each of which represents one ton of GHG (CO₂ equivalent). These allocations represent 99.99% of the overall obligation for this period. A single company, currently under the protection of Bankruptcy and Insolvency Lawwas unable to return the required allocations.

In Californiapartner of Quebec in the regional carbon market of the Western Climate Initiative, a compliance rate of 100% was achieved.

The near-perfect compliance rate demonstrates the commitment of the issuers concerned, since they:

• reduces their GHG emissions;

• purchased emission allowances at government auctions;

• or purchased emission allowances from other companies.

The exemplary results demonstrate the rigor and active participation of Quebec and Californian companies in achieving the climate objectives set by their respective governments.

Related link:

To access the compliance report for the period 2021-2023 or to find out more about the coverage of emissions within the framework of the carbon market:

Source and information:

Media Relations
Ministry of the Environment, the Fight against
Climate Change, Wildlife and Parks
[email protected]
Such. : 418 521-3991

SOURCE Ministry of the Environment, the Fight against Climate Change, Wildlife and Parks

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