China launches carbon market as it aims to reduce emissions - The Mail & Guardian

to enable the Asian powerhouse to meet its reduction goals, including a 2030 deadline for peak emissions and a 2060 goal of net-zero emissions.

The journal said China was using the intensity of emissions rather than absolute emissions to help to reduce the country’s effects on the climate. , China’s scheme is based on a cap-and-trade model, under which coal- and gas-fired energy plants are allocated a certain number of emissions credits, which they can either either trade or buy, depending on whether they are below or above the cap. There are plans to expand this model to the construction, oil and chemicals sectors in coming years.

China’s model differs from those used in the EU, Canada and Argentina by virtue of its focus on decreasing the intensity of emissions rather than absolute emission., we’re proud of our 36 year history, throughout which we have delivered to readers the most important, unbiased stories in South Africa. Good journalism costs, though, and right from our very first edition we’ve relied on reader subscriptions to protect our independence.

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