10.11.2015 - China adds 9.4 million new supply of carbon credits
China's carbon trading regulator will supply an additional 9.4 million offset credits to its seven regional emissions markets as it tries to give industrial emitters an incentive to meet mitigation targets using credits generated by clean projects. The tradable carbon credits are issued by the National Development and Reform Commission (NDRC), China's top regulator, to help finance clean projects like wind power plants. Firms can buy the credits to meet 5-10 percent of their carbon mitigation obligations on any of the seven pilot exchanges, though the eligibility criteria vary, with local regulators still wary about potential oversupply. According to the NDRC's official database, it has already issued 33 million credits, but less than 9 percent of the total was used for compliance purposes by July this year. Because the pilot exchanges had imposed restrictions on some types of credit, the majority were not eligible for trade..............................................Full Article: Source
Print