Marching forward: China is creating the world’s largest market-based carbon pricing system | Development in a Changing Climate

China – the world largest emitter of greenhouse gases – is implementing a national carbon market in 2017 During his visit to Washington last week, China’s President Xi Jinping confirmed that the world’s largest greenhouse gas emitter, which has pledged to reduce its carbon intensity and reach a peak of overall emissions by 2030, will use a cap-and-trade market approach to help realize this.    China already has 7 pilot markets in cities and provinces in place that cover 1 billion tons of greenhouse gas emissions annually. Under the national scheme, now to go live in 2017, this could increase to 4 billion tons according to Chinese researchers – making it the world’s largest national emissions trading system. It’s an exciting step and demonstration of China’s commitment to achieve its low carbon goals.

Origen: Marching forward: China is creating the world’s largest market-based carbon pricing system | Development in a Changing Climate

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