China's national carbon market: Impact on green targets
CGTN, 20 Jul 2021
China's national carbon market opened for business on July 16. Over 2,000 power generation companies are part of the market, which covers over 4.5 billion tonnes of carbon emissions a year. It replaces the European Union's carbon trading program as the world's largest such mechanism. It's a landmark practice that experts said will not only help speed up the cut in domestic carbon emissions, but also promote a broader global response to climate change. How exactly does a carbon market work? How does it fit into China's challenging 2030 and 2060 goals?
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