| China is the world's largest emitter of greenhouse gases. Historically, it has been reluctant to cut emissions, fearing that doing so could impede its economic growth. But there are signs that position is shifting. Late last year, the government banned the building of new coal power plants in particular areas due to air pollution concerns. Now it has announced it will seek to implement a national carbon market by 2016.
The announcement wasn't much of a surprise. Since 2011, China has been developing seven pilot carbon markets with the aim of one day creating a national scheme. The National Development and Reform Commission – the department responsible for the schemes – has long said it wants to include plans for a national market in China's next five year plan...............................................Full Article: Source |