QUÉBEC, December 6, 2024 – The Ministry of Environment, Fight Against Climate Change, Wildlife and Parks (MELCCFP) released its report today on the fourth compliance period of the Cap-and-Trade System for greenhouse gas emissions (SPEDE), covering 2021-2023.

The report period is when companies under the Cap-and-Trade System must offset their greenhouse gas (GHG) emissions by surrendering emission allowances to the government, equivalent to their emissions. In Québec, for 2021-2023, 134 of 135 large emitters and fuel distributors met their obligations, surrendering 176.5 million allowances (representing tons of GHG (CO₂ equivalent)). This represents 99.99% compliance. One company, currently under bankruptcy protection, did not meet its obligations.

In California, Québec’s Western Climate Initiative partner, 100% compliance was achieved.

This near-perfect compliance reflects the commitment of participating companies, who either reduced their GHG emissions, purchased allowances during government auctions, or obtained allowances from other companies.

These excellent results demonstrate the strong participation of Québec and Californian businesses in achieving their governments’ climate goals.

Associated link:

For the 2021-2023 compliance report and more information on emission coverage under the carbon market:

Source and information:

Media Relations
Ministry of Environment, Fight Against Climate Change, Wildlife and Parks

Tel.: 418 521-3991

SOURCE Ministry of Environment, Fight Against Climate Change, Wildlife and Parks