Results of the May 2025 joint carbon market auction and the domestic politics of California and Quebec

Speakers:  

• Clayton Munnings, Elevate Climate, California 

• Mark Purdon, Université du Québec à Montréal 

• Charles Séguin, Université du Québec à Montréal 

Summary: This webinar presents results from the joint auction of GHG emission allowances held by the California Air Resources Board (CARB) and Québec’s ministère de l’Environnement, de la Lutte contre les changements climatiques, de la Faune et des Parcs (MELCCFP) held on May 21, 2025. One of the features of the California-Quebec carbon market has been the organization of the quarterly auctions of emission allowances to firms and other participating entities in the two jurisdictions. Importantly, initial auction prices are fixed by both governments, effectively creating a price floor, though the final settlement price is determined at auction. Auction results offer insights into the performance of the carbon market and will be of interest to academic and practitioner communities alike. With the attention that the carbon market is receiving in both California and Quebec, special attention will be given to the politics in each jurisdiction. In this sense, we are excited to welcome to the webinar Clayton Munnings, who is a recognized expert on the California carbon market and close observer of its politics. This webinar is part of a series of regular webinars on carbon market auction results being organized by experts at the Chaire sur la décarbonisation. This webinar in English aims to reach a wider North American audience. The webinar series alternates between French and English. The next webinar of the series will be held in French.

Registration required via Zoom. No payment required. 

The event will be held in English.
For further information, please visit our website at: 

www.decarbonisation.uqam.ca