Posted on 08/31/2014 9:54:40 PM PDT by Citizen Zed
China plans to introduce its national market for carbon permit trading in 2016, a government official said on Sunday, adding that Beijing is close to completing rules for what will be the world’s biggest emissions trading program.
The nation accounts for nearly 30 percent of global greenhouse gas emissions, and it plans to use the carbon market to slow its rapid growth in climate-changing emissions.
China has pledged to reduce the amount of carbon it emits per unit of its gross domestic product to 40 to 45 percent below its 2005 levels by 2020.
It has already introduced seven regional pilot markets in a bid to gain experience ahead of a nationwide program.
“We will send over the national market regulations to the State Council for approval by the end of the year,” Sun Cuihua, a senior climate official with the National Development and Reform Commission, told a conference in Beijing on Sunday.
The national market will start in 2016, although some provinces would be allowed to start later if they lacked the technical infrastructure to participate from the outset, she said.
The Chinese market, when fully functional, would dwarf the European emissions trading system, which is now the world’s biggest.
(Excerpt) Read more at mobile.nytimes.com ...
Chinese communist government run businesses buying carbon credit from the Chinese communist government so they can charge more to the dumb Americans that buy Chinese made stuff. Hilarious.
Money literally out of thin air and you get the tapayers to ante up when someone commits an infraction that’s almost literally impossible to adhere to because it’s designed that way. The Mob is getting tons of new ideas from this administration and is kicking themselves in the a$h or not thinking of them sooner.
China needs to reduce the emissions of other truly harmful chemicals from coal combustion. That would entail scrubbers and better quality, more expensive coal.
A carbon trading scheme looks like nothing more than disingenuous PR for the greenies of the developed world.
That's how they'll get around their own rules.
Agreed. Our EPA’s own data appears to indicate that except for some local “hot spots”, the fish in most bodies of water in the US have more mercury in them from China, than from the US. How bad the mercury problem in fish in China is (where fish is often a diet staple), must be sobering to SOMEBODY in China...
And money is at the heart of our own government's advocacy of similar propaganda. There's nothing Al Gore and they would like nothing much better than to promote such corporate patriotism here, appearing as yet another line item on our power and phone bills each month.
But it will be few among us who will profit from the brokerage fees, and an extra $4 item will not be worth playing phone tag and talking to computers to complain about.
Adding insult to injury will be the little kids collecting change at Halloween, just like UNICEF.
The Chinese will find a way to adulterate a carbon credit. :^)
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