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China recalibrates carbon-trading plan

September 10, 2017 by Ronjoy Bezbarua

(Source: Radio Free Asia) After years of anticipation, China plans to launch a nationwide carbon-trading system in November to help curb greenhouse gas emissions, but full implementation still faces further delays. The official announcement of the new emissions market, also known as the “cap-and-trade program,” is expected in time for the next United Nations climate conference in Bonn, Germany starting Nov. 6, analysts said. The program aims to manage carbon emissions by major energy users in eight key industrial sectors, the official English-language China Daily said, citing reports by the National Development and Reform Commission (NDRC) and the U.S.-based journal Scientific American. According to the NDRC, China’s top planning agency, the system will cover companies with annual energy consumption of over 10,000 metric tons of standard coal in the petrochemical, chemical, building materials, iron and steel, nonferrous metals, paper, electricity and aviation sectors, China Daily said. Read full article….

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