Overview of Quebec’s Initiatives and Directions November 14 th, 2007 Exploring the Challenges and Opportunities for Establishing a North Anerican Emissions Trading System Jean-Yves Benoit Economist Climate Change Office

- Context - Quebec’s emissions increased by 6,6 % during the 1990 to 2003 period – from 85,3 Mt to 90,9 Mt –Lowest emission increase in Canada (6.6 % vs. 24.1%) –Lowest per capita emission rate (12.1 tons vs. 26,9 tons for the rest of Canada) 94 % of Quebec’s electricity comes from renewable sources (hydro) Industrial sector reduced its emissions by approximately 7 % between 1990 and 2003 while the LFE reduced their emissions by more than 9% Mandatory capture and flaring of biogaz in large landfill sites since 1994

- Quebec’s initiatives - Quebec Public Transit Policy –Increase demand by 8% by 2012 Quebec Energy Strategy –10% wind power by 2015 (4 000 MW) –Add MW of hydro power –Energy saving targets of 3 million TOE by 2015: 350 million cubic meters of natural nas by millions TOE of petrolium products (10% of Québec’s consumption) 8 TWh of electricity –5 % second generation gthanol in all gasoline by 2012

- Quebec’s initiatives - Quebec Climate Change Action Plan (CCAP) –Target: reduce GHG emissions by 10 Mt by 2012 Carbon Levy –1,2 billion dollars (200 M$ per years for six years) to finance Quebec’s CCAP Canada’s ecoTrust for air quality and climate change –350 M$ (one time) federal contribution to Quebec –Will permit an additional 3,8 Mt GHG reduction in 2012 –Quebec’s emissions to be 6% below 1990 by 2012

- Quebec and the Carbon Market - GHG emissions inventory since 1989 and mandatory declaration (2007) Volontary approach with the LFE under evaluation Regional initiatives : –Observer on the RGGI and the WCI –Member of The Climate Registry since October Design aspects Quebec is looking for : –Recognition of early actions –Promote the development and recognize renewable energy (large hydro and wind) –Should not penalize or discourage regional environmental regulation –Montreal Climate Exchange (MCeX)

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