China, responsible for about one-quarter of the world's carbon dioxide emissions, has ambitious goals to reduce them — but has been unwilling to set absolute targets for fear of slowing economic growth. There are now signs that its position is changing. On 18 June, the country will launch an emissions-trading scheme in the southern city of Shenzhen, marking its first attempt to cut emissions using market mechanisms. Under the scheme, more than 630 industrial and construction companies will be given quotas for how much carbon dioxide they can emit. Companies that pollute more than they are allowed will have to buy credits from cleaner counterparts that reduce emissions below their quota — thereby creating a price for the greenhouse gas.
展开▼
