China’s plans for carbon market shows biggest polluter is getting serious about going green
Beijing — China, the world’s biggest polluter, unveiled plans on Tuesday for a national carbon market likely to become the world’s largest exchange for emissions credits. China burns more coal than any other country and bears the ignominious title of top greenhouse gas emitter. Coal generates most of the country’s power but the government has moved rapidly this winter to limit its use in northern China. The launch of the long-delayed carbon exchange scheme is a sign that China is taking its war on pollution to new levels. The country is the largest investor in renewable energy but has faced an uphill battle transitioning from coal, which is used to generate roughly three-quarters of its power according to the International Energy Agency. "The launch of the Chinese carbon market shows that there is increased commitment around the world to price pollution and direct investments into clean technologies," said Femke de Jong, policy director at Carbon Market Watch. China is seen as a pot...
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