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Carbon market: Équiterre and the David Suzuki Foundation salute decision by Québec government.

Montréal, Friday, December 14, 2012 – Following the announcement that the Québec Cabinet has adopted the Regulation for the implementation of the cap-and-trade system for the reduction of greenhouse gas emission emissions, Équiterre and the David Suzuki Foundation have saluted the decision by the government of Québec to solidify its participation in the Western Climate Initiative (WCI) carbon emissions trading market. Québec and California are the first two jurisdictions in North America to move ahead with this initiative, which is aimed at reducing greenhouse gas emissions.

“Through its participation in the WCI, Québec has emerged alongside California as a leader in the fight against climate change, both in North America and internationally. We are honoured to have earned this reputation,” said Steven Guilbeault, deputy director of Équiterre.

“We believe it is essential that Québec continue to develop its alliance with California and strengthen the only cross-border carbon market in North America. Such efforts by provinces and states in Canada and the United States provide an important counterweight to the inaction of the federal governments in the two countries when it comes to setting a price on CO2 emissions,” said Karel Mayrand, executive director of the David Suzuki Foundation’s Québec office.

The WCI is a integral part of Québec’s strategy to reduce greenhouse gases. Its mandatory emissions cap for major emitters will ensure that Québec achieves its 2020 reduction target. Moreover, the trading of emissions allowances within the WCI framework will generate a minimum of $2.7 billion in revenue by 2020, which will help fund Québec’s efforts to reduce emissions, particularly in public transit, through the province’s Green Fund.

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Information:
Loïc Dehoux, Équiterre
514 605 2000