China is planning to roll out a national greenhouse gas emissions trading market by 2017, creating the world's largest market for carbon. However, for the scheme to be effective a greater focus on the creation of a market economy and a deeper political commitment to the environment will be essential.
In particular, the government must wean highly polluting industries off state subsidies. China's establishment of a carbon market is widely viewed as confirmation that it is moving toward greater use of market-oriented approaches in national policy...........................................Full Article: Source
|