China is planning the world's largest carbon trading market
A key senior Chinese official announced that the country will introduce a national carbon trading plan in 2016. If the trading program actually goes into operation, it will dwarf any similar efforts elsewhere in the world.
That is according
to Barbara Finamore, the Natural Resources Defense Council’s Asia director. She says China is now responsible for roughly 30 percent of the world’s greenhouse gases. China's goal is to cut its “carbon intensity" — the amount of carbon emitted for each unit of GDP —nearly in half by 2020.
The national plan builds on pilot projects China is already running in seven provinces around the country, covering about 700 million tons of carbon emissions per year.
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