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AUDIO: China starts carbon trading scheme

AUDIO China launches carbon trading scheme in bid to reduce emissions in Shenzhen  http://www.abc.net.au/news/2013-06-18/china-launches-its-first-carbon-trading-scheme/4763770  19 June 13 China, the world’s largest carbon emitter, has launched its first carbon trading scheme as it tries to reduce pollution from greenhouse gases. A platform allowing businesses in the southern city of Shenzhen to trade permits to emit carbon was established on Sunday, and trading began on Tuesday.

Under the scheme, companies will be assigned an emissions quota and will be able to profit from selling excess permits to other firms if they emit below their quota.

China plans to open similar schemes in seven areas including the capital Beijing, the major commercial centre of Shanghai, the port city of Tianjin and Guangdong province before 2014, in what analysts say is a step towards a nationwide carbon market.
The pilot programs will cover areas in which tens of millions of people live and cover far more emissions than the entire carbon market in Australia.

June 19, 2013 - Posted by Christina Macpherson | Resources -audiovicual