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Western Climate Initiative cap-and-trade model

Developed by Near Zero

Version 1.0

load the model on Binder: Binder

© Copyright 2018 by Near Zero. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

Mason Inman ( is the project manager and technical lead for the development of this model.

The model is open source, released under the Creative Commons license above, and is written in Python, including use of the library Pandas. The online user interface is built using Jupyter, with figures using Bokeh, and hosted online through Binder.

This model simulates the supply-demand balance of the Western Climate Initiative cap-and-trade program, jointly operated by California and Quebec.

This interactive online version of the model allows you simulate a range of supply-demand scenarios through 2030, as determined by three core assumptions about the future:

  • Covered greenhouse gas emissions
  • Quarterly allowance auction outcomes
  • Carbon offset supplies

Each assumption can be set in "simple" mode to quickly specify a scenario, or they can be set in "advanced" or "custom" mode for more detailed specifications. Click on the tabs in each category to choose the level of control over the settings.

Near Zero gratefully acknowledges support for this work from the Energy Foundation, grant number G-1804-27647. Near Zero is solely responsible for the content. The model, its results, and its documentation are for informational purposes only and do not constitute investment advice.

About Near Zero: Near Zero is a non-profit environmental research organization based at the Carnegie Institution for Science on the Stanford University campus. Near Zero provides credible, impartial, and actionable assessment with the goal of cutting greenhouse gas emissions to near zero.