| China plans to kick off a national carbon market next year, but because many challenges remain unsolved in its regional carbon trading pilots, the move has met with a mix of praise and caution. Last week, Reuters quoted Jiang Zhaoli, a senior official with China's National Development and Reform Commission, as saying China will cap carbon dioxide emissions from six major polluting sectors in a national carbon market likely to be launched by the summer of 2016.
Jiang said companies in power generation, metallurgy, nonferrous metal, building materials, chemicals and aviation will be targeted first under the national system. He also said the system will start with a three-year trading phase before becoming fully functional in 2019...............................................Full Article: Source |