2014-08-31. China Plans a Market for Carbon Permits.

posted Sep 5, 2014, 8:47 PM by Alan Gould

For GSS Climate Change chapter 9. Excerpt: BEIJING — China plans to introduce its national market for carbon permit trading in 2016, a government official said on Sunday, adding that Beijing is close to completing rules for what will be the world’s biggest emissions trading program. The nation accounts for nearly 30 percent of global greenhouse gas emissions, and it plans to use the carbon market to slow its rapid growth in climate-changing emissions. China has pledged to reduce the amount of carbon it emits per unit of its gross domestic product to 40 to 45 percent below its 2005 levels by 2020. ...The Chinese market will cap carbon dioxide emissions from sources like electricity generators and manufacturers. Those that emit above their cap must buy permits in the market.... http://www.nytimes.com/2014/09/01/business/international/china-plans-a-market-for-carbon-permits.html. By Reuters.