The Canadian state has set a greenhouse gas emissions reduction goal of -30% by 2030, compared to the emissions in 2005. In order to reach this goal, it was decided at the end of 2016 to specify a minimum price of approximately 7 EUR/t CO2 as of the beginning of 2018. This price is increased every year and is set to reach about 34 EUR/t CO2 in 2022. The individual Canadian provinces also have the option to determine a fixed price/t CO2 or to set up greenhouse gas emissions trading systems (ETS).
In the USA, two regions currently engage in greenhouse gas emissions trading systems. The Regional Greenhouse Gas Initiative (RGGI) has established itself in the northeast of the USA and includes seven federal states. The RGGI was the first ETS in the USA with binding greenhouse gas emissions reduction goals for individual companies. The Western Climate Initiative (WCI) is a joint greenhouse gas emissions reduction initiative by California and four Canadian provinces. California has set a greenhouse gas emissions reduction goal of -40% by 2030, compared to the emissions in 1990. With the ETS initiated in 2012 about 85% of its greenhouse gas emissions are covered. In 2014, California and Québec merged their ETS.
Faktor-Plus is constantly monitoring the developments regarding opportunities and risks for its customers.