Cap and trade system china
China has announced a national cap-and-trade program designed to limit its overall emissions. The official trade came at the Obama-Xi summit China afternoon; the New Cap Times broke the story on Thursday night, citing White House officials. Under a cap-and-trade program or emissions trading system ETSchina government puts a limit on the total amount of carbon dioxide emissions. This cap is set at a level that will lower the overall emissions in the target region; permits for emissions are then issued based on the cap. Businesses can then buy and sell these permits, allowing the market to regulate the cost. The announcement that China will institute a cap-and-trade program is a major step forward, but at the same time, a natural outreach of existing efforts. In fact, the move to a national ETS had already trade announced in September At the time, a senior climate official with the National Development and Reform Commission said that China would and out a national cap-and-trade market in China began moving toward a national cap-and-trade program inwhen it announced the formation of seven regional, pilot emissions china systems in its 12th Five Year Plan covering the period from to Turning those pilots into a coherent national whole is the natural next step for the 13th Five Year Plan, a draft of which will be unveiled later this year. The seven pilot ETSs were established in the cities of Beijing, Chongqing, Shanghai, Shenzhen, and Tianjin, with two and systems in Guangdong and Hubei. These pilots, however, are not a united whole. As Song and Lei of System pointed out when evaluating the pilots in earlythe systems have vast differences. But the differences in the ETS pilots are intentional. The unique systems are designed in part to account for regional variations and in part to help Chinese leaders decide which program is most successful. China overall is making slow progress on pollution transparency. Another challenge will be integrating the various pilots into one nationwide system. The national ETS will cap best in concert with these other efforts. For example, new targets for lowering PM2. The results have been noticeable: In other words, local governments are already moving toward lower emissions; a new national ETS will only reinforce this behavior. A concurrent push toward renewable energy will also help. Moving toward renewable energy, and away from a reliance on coal, will make the emissions reductions called for by a cap-and-trade system more feasible. My Account Sign In. Central Asia East Asia Oceania South Asia Southeast Asia Economy Diplomacy Environment Politics Security Society. Blogs China Power Flashpoints Asia Defense Cap Beat The Pulse The Koreas Tokyo Report The Debate Crossroads Asia Trans-Pacific View Pacific Money Asia Life Oceania. Life and Politics in Asia. Japan Affairs Asia Geopolitics Korea Talk. By Shannon Tiezzi for The Diplomat. Click here to subscribe for full access. China climate change policies. China emissions trading system. China will fulfill its environmental pledges "under any circumstances," says Beijing's climate change representative. China's Quest for Clean Tech 6 Takeaways from Xi Jinping's US Visit Can China Live Up to Its Climate Fighting Promise? The Good, the Bad, and the Ugly. An Environmental Protection Area in the South China Sea? Not Likely Can System Afford CPEC? The Trade government has shown little interest in system the growing violence in the south. Kashmir on the Brink Sudan: China's Original Foothold in Africa Does the UN Care About Human Rights in Central Asia? Sign up for our weekly newsletter. A brief history of U. Tibet policy -- and how Trump just turned everything upside down. As remarkable as the U. As India joins the SCO, it must keep in mind certain geopolitical realities. An interview with Robert Mann, Senior Portfolio Manager at Nikko Asset Management. Videos Through the Lens: Podcasts Japan Affairs Asia Geopolitics Korea Talk.
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