27 Nov 2013:
China Set to Open
World's Second Largest Carbon Market
China is in the midst of launching seven carbon markets, the largest of which will open next month in Guangdong
, the country's most populous province. The carbon markets are a key element of China's plan to cut carbon emissions by up to 45 percent per unit of GDP by 2020. The Guangdong carbon permitting scheme will cap 2013 emissions at 350 tons for 202 companies in the heavily industrialized province. Twenty-nine million permits will be auctioned in the market this year and next, which will be the world's second largest carbon market after the European Union's, dwarfing carbon markets in Australia and California. In 2015 the number of permits auctioned will more than triple, officials said. Shanghai's carbon market launched yesterday and a similar market, about a quarter of the size of Guangdong's, is set to open in Beijing tomorrow. China's seven carbon markets together will regulate roughly 700 to 800 million tons of carbon dioxide annually — roughly equal to the annual emissions of Germany — and they will cover regions representing nearly a third of China's gross domestic product, Reuters reports.
Yale Environment 360 is
a publication of the
Yale School of Forestry
& Environmental Studies
Yale Environment 360
articles are now available in Spanish and Portuguese on Universia
, the online educational network. Visit the site.
Business & Innovation
Policy & Politics
Pollution & Health
Science & Technology
Antarctica and the Arctic
Central & South America
Photographer Robert Wintner documents the exquisite beauty and biodiversity of Cuba’s unspoiled coral reefs. View the gallery.
is now available for mobile devices at e360.yale.edu/mobile
The Warriors of Qiugang
, a Yale Environment 360
video, chronicles a Chinese village’s fight against a polluting chemical plant. It was nominated for a 2011 Academy Award for Best Documentary Short.
Watch the video.
Top Image: aerial view of Iceland
. © Google & TerraMetrics.
A three-part series Tainted Harvest
looks at the soil pollution crisis in China, the threat it poses to the food supply, and the complexity of any cleanup. Read the series.