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China CO2 Market to Cover Half of Total Emissions

China CO2 Market to Cover Half of Total EmissionsChina CO2 Market to Cover Half of Total Emissions

China’s long-awaited nationwide carbon market will cover as many as 10,000 firms and regulate nearly half of the country’s total emissions once launched in 2017, a senior official said on the sidelines of the Paris climate talks on Tuesday.

Jiang Zhaoli, vice-head of the climate office of the state planning agency, the National Development and Reform Commission, said China’s carbon market would become the world’s biggest, and its targets would be higher than those set by the state “in order to guarantee it had sufficient effect”, Reuters reported.

Financialtribune.com