Four more of China's designated seven pilot carbon exchanges are firing up their platforms, joining the country's pioneer market in Shenzhen. Shanghai started carbon trading on Nov. 26, with Beijing launching two days later, and Guangdong province and Tianjin are due to follow soon. The other two pilot exchanges would be in Chongqing and Hubei province. China's emissions trading experiment, while still small in scale, is stirring hopes for the eventual establishment of the world's largest national carbon market. The baby steps forward also contrast with regressive moves in Australia, where the new government is seeking to repeal the previous administration's carbon pricing law (WG1 Sep. 11'13).
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