Ontario expected to join Quebec-California cap-and-trade carbon market

Ontario expected to join Quebec-California cap-and-trade carbon market

The auction lets businesses buy allowances on pollution limits.

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Ontario's Environment Ministry says the results of the latest Quebec-California cap-and-trade auction show the carbon market system is working as intended.

The Quebec-California auction sold out of its current allowances, which is a stark improvement from the previous one in which only 18 per cent of offerings sold.

Ontario, which started a cap-and-trade program this year, will hold its second auction on June 6.

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