05.04.2016 - China's Plan to Launch Greenhouse Gas Cap and Trade System in 2017 Can Open Up Billion Dollar Market for Cemtrex (CETX)
Cemtrex Inc., a world leading industrial and manufacturing solutions company, announced today that it sees the Chinese government's recent efforts to implement a cap and trade program to reduce greenhouse gases as having the potential to open a huge new market based on the Company's existing VAMOX methane reduction technology. China's plan is to launch a national emission trading system in 2017, covering key industries including power generation, iron and steel, chemicals, building materials, paper-making, and nonferrous metals. Recently, China made commitments to fund over $3 billion for climate change initiatives which is an important departure from their previous "unproductive" position where they demanded that funds should flow from developed to developing nations for world climate control. This move has implications for U.S. domestic climate legislation as Beijing's cap and trade announcement directly undermines U.S. policymakers who have historically argued that China's participation in climate mitigation policy is a prerequisite for U.S. action in this arena. (Press Release)
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