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Thread: Chinese start carbon-trading scheme

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    Default Chinese start carbon-trading scheme

    http://business.timesonline.co.uk/to...cle6841435.ece

    (snip)
    China will throw down the gauntlet to western economies and businesses on climate change when it unveils its own emissions-trading scheme this week.

    The unexpected move will, for the first time, place limits on the amount of greenhouse gases Chinese industries are allowed to emit.

    A delegation from the China Beijing Environmental Exchange, a government-backed platform for trading environmental equity, will outline the details in New York this week at a UN conference on climate change.

    China’s entry into the carbon-trading market holds significant implications for businesses and the environment.

    The People’s Republic is the world’s largest polluter, accounting for 20% of greenhouse gas emissions. Thanks to the increasing energy demands resulting from industrialisation, China could be responsible for a third of emissions by 2030.

    As a result, it dominates the supply side of the global carbon-trading market. Carbon credits are earned from the creation of environmental projects, generally in developing countries.

    If China installs a scheme to cap the emissions of its industries, it would create huge demand for new environmental projects, significantly increasing the value of the market.
    (snip)

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    Default Re: Chinese start carbon-trading scheme

    Cool.

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    Default Re: Chinese start carbon-trading scheme

    Al Gore will NOT be pleased !

    As to the actual CO2 / pollution reductions that will actually stem from this latest move by the Chinese, I'll believe it when I see it. If past history is any example, China is very likely to foster an 'Eastern Europe' scenario, where coal fired power plants cheerfully continue to belch CO2 and other pollutants while the gov't grants them whatever level of 'free' carbon credits are required to cover the emissions !

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