In an effort to cap carbon emissions, China unveiled its first pilot carbon-trading program, which will begin soon in the southern city of Shenzhen, reports Jonathan Kaiman at the UK Guardian. The trading scheme will cover 638 companies responsible for nearly 40% of the city’s total emissions, and will eventually expand to include transportation, manufacturing and construction companies. Shenzhen is one of seven designated areas in which the central government plans to roll out experimental carbon trading programs before 2014. China is the world’s biggest carbon emitter and burns almost as much coal as the rest of the world’s countries combined. Li Yan, Greenpeace east Asia’s climate and energy campaign manager, said that the pilot programs will inform the central government on how to motivate local authorities to adopt low-carbon policies. The push to reduce carbon emissions coincides with the newly installed leadership’s effort to tackle the country’s dire air pollution problem, a source of recent widespread anger and frustration. “Having a mid-term strategy, and trying to prepare years ahead, is actually in line with China’s interests and its political and social priorities,” she said.
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China Unveils Details of Pilot Carbon –Trading Programme