China intends to launch the world's largest “carbon market”

<pre>China intends to launch the world's largest

In China, an ambitious plan for the regulation of greenhouse gas emissions into the atmosphere was promulgated, which is described as a “carbon market”. For all its participants norms are established for the permitted volumes of carbon dioxide production, and then free trade begins. Those who have surplus emissions must buy back on them quotas from those who pollute the environment and vice versa.

The scheme in many respects resembles the European project of 2005, which failed because of too loyal conditions for its participants, therefore the Chinese intend to act otherwise. The main condition – to regulate the carbon market will be created a single global system of accounting for greenhouse gas emissions in the country. Now everything is too “smoky” in this sphere, but the Chinese authorities are going to put things in order with a hard hand.

The second component of the project is benefits and investments for those who will implement methods for cleaning emissions and master “green” technologies. That is, it will become a separate line of business, which will make it possible to earn money, rather than trite speculation on the sale of free emissions. The plan calls for the transfer of 20% of the energy of the entire vast country to energy sources from non-fossil raw materials by 2030.

At the first stage, 1,700 Chinese companies will become participants in the carbon market, and it will operate only within the country. There is not much point in waving to world domination, when the same US exponentially leaves the Paris Treaty. But if China succeeds in starting and building this market, it will become an example for other powers.

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