Ottawa has reached an agreement with the Quebec government on its environment plan in a deal that could be worth more than $300 million, according to reports on Monday.

La Presse is reporting that Prime Minister Stephen Harper's Conservative government is poised to confirm the Quebec green deal Monday morning, when it announces a $1.5 billion envelope for provincial initiatives to fight climate change.

Quebec has lobbied Ottawa for more than a year to fund the province's initiatives to reduce greenhouse gas emissions. Quebec has pledged to strive towards the Kyoto Protocol targets for greenhouse gas reductions, despite Ottawa's rejection of the international agreement.

Kyoto calls for greenhouse gas emissions to be reduced to about five per cent below 1990 levels by 2012, but each signatory country has its own reduction target.

Canada's target is a six per cent reduction, but in the years since the accord was signed, emissions in Canada have increased.

Quebec Environment Minister Claude Béchard has said the province could reach the targets by increasing public transit use and reducing gas consumption. The province unveiled its climate change plan in June 2006, vowing to reduce its emissions by 10 million tonnes of CO2 by 2012.

Harper and Quebec Premier Jean Charest are holding a press conference in Sherbrooke Monday morning to confirm the deal.

With files from the Canadian Press