| Most Australians have never heard of the Beijing Environment Exchange. But they will in the future. The Exchange is the body that administers the trade of carbon permits under China's largest emissions trading scheme (ETS) in the capital, Beijing. China currently has seven ETS's operating with varying degrees of success in Beijing, Shanghai, Tianjin, Chongqing, Guangdong, Hubei and Shenzhen.
The collective value of traded allowances of 536 million yuan and 14.4 million tonnes of carbon dioxide, and the fact that China will move to a national ETS, demonstrate how serious the Chinese Government is about tackling climate change through a market-based mechanism...............................................Full Article: Source |