China is to cut gas emissions through a new trading system.
The carbon trading system approved by China’s government bodies will cover heavily polluting power generation plants.
The trading system idea sets a limit on the emissions of countries. Within that limit, these countries or companies will be able to choose to reduce their emissions, or else pay others to do so.
Nathaniel Keohane, vice president at the Environmental Defense Fund, a US-based environmental group, said that this move is a game-changer. “This shows global leadership on the part of the Chinese government,” he added.
China has already ensured that its emissions peak by 2030, and so emissions should begin to fall after that. “That is the key question – can China now peak sooner?” said Keohane. “This process should show us more data [on power plants] and more transparency.”
As China’s power sector emits 3.3 billion tonnes of carbon every year, this scheme is potentially the most important initiative for reducing greenhouse gases.
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