20.06.2013 - Carbon emissions: The cap doesn’t fit
On June 18th, China became the latest and largest country to trade carbon emissions. The southern city of Shenzhen started a pilot emissions-trading scheme (ETS), the first of seven citywide and provincial carbon markets which, when all up and running, will constitute the second-largest in the world, after Europe’s. China needs to cut emissions. It also needs to shift from command-and-control limits on pollution to market-based ones, like an ETS. So on the face of it the idea is fine. But the actual pilot looks like charade...............................................Full Article: Source
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