Quebec has released draft regulations to update its cap-and-trade system, marking the most significant shift in the province's carbon market in years. Key changes include tightening the limit on offset credits from 8% to 6% and introducing a mandatory minimum requirement for Quebec-issued credits to boost domestic project profitability. The updates also refine emissions accounting to exclude biomethane and captured carbon, while restructuring compliance periods to align with California. These reforms aim to strengthen market integrity and prepare for a potential linkage with Washington State.
