China Enters Emissions Trading

The EU has begun advising Beijing on the establishment of an emissions trading market in China in order to cut greenhouse-gas emissions.

The entrance of the world’s second largest economy into the carbon market will boost the size of the market and help it grow.

Officials from China’s National Development Reform Commission (NRDC), the government’s central economic planning agency, met with EU climate officials over two days in Beijing recently, according to the China Daily.

The EU operates the world’s largest carbon emissions cap and trade scheme issuing tradable permits for two billion tonnes of CO2 emissions per year from 11,000 high-emitting power and manufacturing installations.

Jos Delbeke, director-general of the European Commission’s climate office in Brussels said his team shared the experiences and expertise gained from the EU ETS and the two delegations discussed the operational details of a carbon system.

China has a target to reduce the emissions of its economic output by up to 45% by 2020.

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