CHINA’S PLAN TO CAP AND TRADE

One Way China is Getting Serious About Climate Change

Dan Stone, August 12, 2013 (National Geographic)

"China…is working on establishing a small-scale cap and trade program…[Cap and trade] was originated in the U.S. back in the 90s and worked…[But the U.S. turned] away from the strategy when it was…[suggested] it would make people’s energy bills rise…China’s cap and trade program launched earlier this summer in the southern city of Shenzhen. The government will set a limit for emissions and any polluters who don’t reach their limits can sell remaining credits for a market price. The pollution limits will go down over time and the going rate for a credit (for anyone who exceeds the legal polluting limit) will go up, encouraging all polluters to reduce their emissions or pay through the nose to keep polluting…If it works in Shenzhen…[China, which leads the world with 7,711 million tons of carbon dioxide annually,] could create a national system…” click here for more

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