On November 24, the provincial governments of Québec and Ontario entered into a Memorandum of Understanding to cooperate in the field of climate change. The memorandum recognizes the importance of carbon pricing initiatives in encouraging the transition to a low-carbon economy, technological innovation, economic development and job creation. It also makes note of their joint efforts as part of the Western Climate Initiative in developing the principles and mechanisms that form the foundation of Québec’s cap-and-trade system. Among other things, both provinces agreed to harmonize the reporting and inventory of greenhouse gas emissions, as well as collaborating on market-based mechanisms, such as the linked emissions trading system in Québec and California. In addition, the transition to a low-carbon economy should also be accelerated. The respective governments have entrusted the Ministers responsible for climate change issues to establish a joint working group, which will be chaired by the Deputy Ministers.
