Nov 25, 2013 - 11:17am
This year China has ramped up its efforts to cut carbon and air pollution through carbon trading, renewable energy investment and caps on coal use. Various industry analysts predict that Chinese coal consumption could peak by 2020 and then decline.
It is expected that Shanghai will launch an emission trading scheme on 26 November, covering approximately 190 companies emitting 110-150 million tonnes of carbon dioxide (CO2). The Beijing market is set to begin on 28 November, and will cover more than 400 companies responsible for emissions from power, industry and large buildings.
China is developing at least seven pilot emission trading schemes. China’s first ETS began in June, in the city of Shenzhen (pop. 7 million). The Shenzhen market covers over 800 private and public organisations responsible for 31 million tonnes of carbon pollution, or about 40 per cent of the city’s emissions.
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