China, Carbon Market, Davis discussed on All Things Considered

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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 electrcity 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 common kion mike any and to davis basic utilize day they could do the 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 needs three things one any canadian how might everybody emits carmen and in china that system in place yet funny you also need a system to register the emissions that registered ethnic and finally of course the actual mechanism to trade allowances if you might get that out for the next that what might china's price on carbon be renting song is with the world resources institute he says earlier regional programmes in china sought prices hover at about five or parttime no problem eat meat it but you know that'd be changeable a national given now so a lot to be figured out but he says he measured pace be good if it helps balance emissions reductions with economic growth poet apparent is 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 best practice international veracity all kinds of financial accounting will gradually have to apply to the cap and trade though in grow slowly and steadily china's new carbon market is a clear way to show off global leadership jed kim from marketplace.

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