Global Economy, China, Greenhouse Gas Emissions discussed on Marketplace



A lot of coverage of the tax bill here and elsewhere but it's probably wise to remember we are all in a global economy one in which today we learned that china is going to start its own market in card and wait a trade greenhouse gas emissions with goal of cutting them by putting a price on him it's a longawaited announcement a lot of climate change watchers were hoping it would have been a bigger deal right now it's just a chinese power sector other big polluters like cement and steel and chemical plants over there have been left out but even with just eletricity china's will be the biggest carbon market in the world from the sustainability desk marketplace's jed kim explains what's going on china's timing in the waning days of the year is not a coincidence china promised to launched america in 2017 and today was basically to last day they could do to shorter watches carbon markets for energy and olympics firm ici yes she says it's a big announcement with a slow roll out that's because he working carbon market these three things one any to know how might everybody emits and carmen and in china that system in place yet funny you also need the system to register the ambitions that wretched registered ethnic day and finally of course the actual mechanism to trade allowances and you might get that out for the next that what might china's price on carbon be red song is with the world resources institute he says earlier regional programmes in china sought prices hover at about five to fix or on the carbon emitted but changed because the national given now so a lot to be figured out but he says he measured pace may be good if it helps balance emissions reductions with economic growth poyton pernas with the carbon disclosure project she says the new market will make china way more transparent emissions wise it will by definition have to bring china to standard practice international veracity all kinds of financial accounting will gradually have to apply to.

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