Carbon prices in the California-Quebec emissions trading scheme will bedetermined by the implementation of ICE and Gas boiler sales ban.For California, this means sustaining a ~7% annual increase in EV sales in order to reach 100% by 2035. The current percentage of new EV sales is 25%. If targets are missed, or loopholes and a lack of stringency emerge, then allowance prices could reach just under USD 90/t in 2030 and over USD 230/t by 2045 according to Veyt analysis.
Over the past several years, California and Quebec have made increasing efforts to strengthen their respective climate targets. The two jurisdictions have jointly implemented policies to completely phase out the sale of new internal combustion engine (ICE)…
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