| Just two months after Australia trashed its carbon price because it was “too high” and would “trash the economy”, China has flagged that its planned carbon trading scheme will cover 40 per cent of its economy and be worth up to $65 billion.
The National Development and Reform Commission (NDRC), China’s top economic planner, this week outlined its initial plans for a nationwide market to slow down the rapid growth of greenhouse gas emissions in China. The NRDC said it is likely to regulate 3 to 4 billion tonnes of carbon dioxide (nearly 8 times Australia’s entire annual emissions) by 2020 and the market will be worth up to 400 billion yuan ($65 billion)...............................................Full Article: Source
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