On February 21, 2018, the state of California and the Canadian provinces of Ontario and Québec held their first joint auction of allowances issued under their respective cap-and-trade programs, which have now been “linked” with one another, creating the largest and only economywide carbon market in North America. Whether the linkage will survive the vicissitudes of changing political winds remains unclear. What is clear is that, despite the Trump administration’s views, “subnational” jurisdictions such as California and the two Canadian provinces will continue their efforts to demonstrate that cooperation is possible and progress can be made to reduce carbon emissions.
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