China aims for emission trading scheme in big step vs. global warming

China aims for emission trading scheme in big step vs. global warmingBy Muyu Xu and Josephine Mason BEIJING (Reuters) – China said on Tuesday the first phase of its long-awaited nationwide carbon emission trading scheme (ETS) will focus on the power sector, as the government outlined details of what is expected to be the world’s largest such program. The State Council approved the scheme last week and the National Development & Reform Commission (NDRC) outlined some details of how it will be implemented, marking its launch, NDRC vice chairman Zhang Yong said at a briefing. Trading will be based in Shanghai, involving 1,700 power companies and over 3 billion tonnes of carbon dioxide annually, he said.



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