London, 1 September - IETA welcomes the joint declaration by the environment ministries of Mexico, Quebec and Ontario setting out a commitment to bring their respective cap-and-trade programmes closer together.
In a joint statement signed 31 August in Guadalajara Jalisco, Mexico, the three partners have pledged to collaborate on carbon market activities, and to promote emissions trading in North America.
Katie Sullivan, director Americas at IETA, said: “This declaration is further evidence that national and sub-national jurisdictions can link their cap-and-trade systems to achieve even greater economies of scale and access lower-cost reductions.”
“Carbon markets are already in place in Canada and the US, while Mexico is developing plans for its own system. Cooperation between such markets will speed up implementation of nations’ commitments under the Paris Agreement.”