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Even though it often seems that even mentioning climate change or pricing carbon on a national basis is an utter nonstarter, here’s another example of how states aren’t waiting for the Feds to get their act together: The Sacramento Bee reports on progress with the Western Climate Initiative. Specifically, California and 10 other US states and Canadian provinces are moving forward with plans to set up their own carbon trading market.

The plan for the subnational carbon trading scheme, slated now launch in January 2012, is part of a goal to reduce greenhouse gas emissions regionally 15% by 2015. The trading of pollution allowances under the scheme is expected to run to $21 billion annually.

Participating in the plan as members are California, Oregon, Washington, Montana, Utah, Arizona, and New Mexico in the US; British Columbia, Manitoba, Ontario, and Quebec make up the Canadian contingent. Several other states, in the western US, as well as two more provinces in Canada and six states in Mexico have observer status.