Cairo, Global Economy, China discussed on Marketplace All-in-One

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This is marketplace i'm cairo's raised all i know there's been 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 carbon away to trade greenhouse gas emissions with the goal of cutting them by putting a price on him it's a longawaited announcement a lotta 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 basically comment on any any team and today was basically to last day they could do to shorter watches carbon markets for energy analytics firm ici yes she says it's a big announcement with a slow roll out that's because he working carbon market needs three things one any to know how might everybody emits and carmen and in china that system in place yet holly you also need the system to register the emissions that are registered ethnic and finally of course the actual mechanism to trade allowances and he might get that next that what might china's price on carbon be ramping song is with the world resources institute he says earlier regional programmes in china sought prices hover at about five or on the carbon emitted but you know that'd be 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 polo the pearn is with the carbon disclosure project she says the.

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