Chinese, U S envoys to discuss climate change
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Chinese, US envoys to discuss climate change
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China launches world s largest carbon market By HOU LIQIANG in Beijing, HE WEI in Shanghai,HE WEI and LIU KUN in Wuhan | CHINA DAILY | Updated: 2021-07-17 07:51 Aerial photo taken on Aug 19, 2020 shows wind turbines in Jiucaiping scenic spot in Southwest China s Guizhou province. [Photo/Xinhua]
Overpassing EU s trading program, it covers over 4.5 billion tons of emissions
China on Friday inaugurated its national carbon market, a landmark practice that experts said will not only help accelerate the reduction in domestic carbon emissions, but also promote a broader global response to climate change.
The market currently includes over 2,000 companies in the power generation sector and covers over 4.5 billion tons of carbon dioxide a year. It replaces the European Union s carbon trading program as the world s largest such mechanism, according to the Ministry of Ecology and Environment.