| China is launching a national cap-and-trade scheme in 2017 to curb emissions. While the details still need to be worked out, observers say it shows China's commitment to fight climate change. China consumes more than half of the world's coal and emits twice as much carbon dioxide as the United States. However, in 2017, Beijing aims to launch the world's largest national cap-and-trade scheme, one that is expected to exceed the European Union's.
The scheme would limit the amount of pollution that companies can emit and let them pay competitive prices for a share of the quota. Businesses that do not use up their quota can sell the remainder, while those that need more than their quota have to buy additional permits. The aim is to induce companies to find ways to reduce greenhouse gas emissions...............................................Full Article: Source |