China Set to Launch World’s Second Largest Carbon-Trading Scheme

Buildings are shrouded in smog on November 7, 2013 in Shanghai, China. People were advised to stay indoors today as the Shanghai Environment Agency measured air pollution levels at five out of a possible six. 
National Journal
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Clare Foran
Nov. 27, 2013, 2:41 a.m.

China’s Guang­dong Province, the second-largest by pop­u­la­tion, will be­gin a car­bon-emis­sions-trad­ing scheme next month as the world’s largest emit­ter of green­house gases at­tempts to com­bat air pol­lu­tion, Re­u­ters re­ports.

Once the car­bon mar­ket is up and run­ning, it will stand as the second largest of its kind, trail­ing o nly the European Uni­on. The pro­gram is one of sev­en pi­lot pro­grams cur­rently in the works in China and will come on the heels of the launch of sim­il­ar mar­kets in the cit­ies of Shang­hai and Beijing.

Un­der the reg­u­lat­ory scheme, total car­bon di­ox­ide emis­sions emit­ted by more than 200 com­pan­ies will be lim­ited to 350 mil­lion tons for 2013. This is ex­pec­ted to help China work to­wards its over­all stated goal of cut­ting emis­sions per unit of GDP by 45 per­cent be­fore 2020.

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