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China will launch world’s biggest carbon market in 2016

Posted on 05 September 2014

China will launch its eagerly awaited national Emissions Trading Scheme (ETS) in 2016, an official anticipated to Reuters last Sunday. Once implemented, this market for carbon permit trading will become the biggest in the world, helping the largest greenhouse emitting nation to axe pollution.
China is already experimenting with seven regional carbon market pilots, which were announced in 2011 and operative over the last two years. Each pilot covers a large city - Beijing, Tianjin, Shanghai and Shenzhen - or a province - Chongqing, Guangdong, and Hubei. Together the projects have accounted for almost 4 million tons of carbon emission quotas so far, according to the National Development and Reform Commission, making China the world’s second largest carbon trading market following the European Union’s EU-ETS………………………………………..Full Article: Source


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