China's Carbon Trading Market to Encompass Steel and Aluminum Sectors

Via Metal Miner It has been in the works for some time now. China is finally all set to add industrial metal sectors like steel and aluminum as well as cement to its national carbon trading market. According to media reports, the change will happen by the end of 2024. Essentially, this means domestic steel, aluminum and cement producers will soon have to pay more for their carbon emissions.

Several other Asian and Latin American countries have set up or are in the process of setting up carbon credit markets. According to a report on global greenhouse gas emissions by the International Carbon Action Partnership ICAP, these nations see this marketplace as crucial to helping them attain their domestic climate objectives.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Is China Losing Its Dominant Position in the Global Steel MarketChina's steel industry faces a crisis marked by overproduction, falling demand, and government intervention, raising questions about its future dominance in the global market.
Source: OilandEnergy - 🏆 34. / 68 Read more »

China’s bond market is sending a signal policymakers can’t ignoreThe country’s central bank is concerned about anaemic domestic demand
Source: ftenergy - 🏆 47. / 63 Read more »