| The essential first step is to put in place a functioning carbon price. Europe has had this since 2005 in the form of the European Union Emissions Trading Scheme (EU ETS). California, Québec, British Columbia, Australia and New Zealand have all recently established carbon pricing of one sort or another.
South Korea, Japan, and Switzerland appear to be moving toward carbon markets. Even China has started pilot carbon trading in Shenzhen, and it plans to add programs in Beijing, Tianjin, Shanghai, Chongqing, Guangdong and Hubei...............................................Full Article: Source
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