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China Unveils an Ambitious Plan to Curb Climate Change Emissions
China's government takes the first steps to create a market where credits can be traded on rights to emit carbon, burn fossil fuel and create emissions harmful to the environment and health. Big emissions come from chemical plants, steel and cement factories, and burning of coal by power plants. China is the world's largest user of coal for energy. The credits are a way for this sector of the economy to participate in cutting emissions. The provincial level program run on a pilot basis with only $400 million in credits will now transition to a larger program covering entire sectors of the Chinese economy that are responsible for carbon emissions. Experts say this program takes time to structure and the Chinese government is moving forward even though this takes time.
China's move to a national carbon market for trading the rights to make carbon emissions
12/19/2017
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China Unveils an Ambitious Plan to Curb Climate Change Emissions
The New York Times 12/19/2017
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