NewEnergyNews: CHINA READIES EMISSIONS TRADING

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    Friday, October 09, 2015

    CHINA READIES EMISSIONS TRADING

    China launches nationwide emissions trading scheme

    Angeli Mehta, 6 October 2015 (Chemistry World)

    “…[China will implement a national emissions trading scheme in 2017,] encourage more power generation from renewables…and made clear that a new level of ambition is needed if December’s critical climate change talks in Paris are to be successful…The timetable to implement a national trading system… sends a signal to investors in China that the government is going to properly set a carbon budget and that may be more effective in catalysing business and industry away from fossil fuels…China has pilot trading systems in seven cities – the first set up in 2011. The challenge will be bringing them all together, and success will depend on China setting [an ambitious and transparent cap]…Cap and trade is just one of a number of policies that the Chinese government is implementing to ensure its carbon emissions peak by 2030. Many observers believe it will achieve this goal earlier, perhaps even before 2025…” click here for more

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