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Newsflash

China to have world's 2nd largest carbon trading scheme by 2014

24th January, 2013

China will have the world's second largest carbon trading scheme by 2014, or twice as big as Australia's regime, a latest report showed Thursday.

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Carbon price of $29 'not implausible', says Blair Comley

20th January, 2013

THE head of the federal climate change department says it is "not implausible" the European carbon price could rise to $29 a tonne by mid-2015, when Australia's emissions trading scheme begins.

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Carbon credit program launched in Shanghai

1st August 2012

Shanghai municipal government issued guidelines for a pilot carbon trade market that will allow companies to buy and sell carbon credits.

 

The guidelines, which were posted on the government website on Tuesday, said the program will have a trial period from 2013 to 2015. About 200 firms from industries such as steel, petrochemicals, non-ferrous metals and power, plus non-industrial fields, such as airlines, ports, airports and hotels, will join the program.

 

The authority said companies with large carbon emissions, like Baosteel and Sinopec Shanghai Petrochemical will be included in the scheme.

The carbon dioxide emission of these 200 companies reached 110 million tons last year, accounting for almost half of the city's total emissions.

The carbon trade platform will be based at the Shanghai Environment and Energy Exchange.

Shanghai's move comes on the heels of a decision by the National Reform and Development Commission earlier this year to call on seven cities and provinces, including Beijing, Shanghai and Tianjin, to set up carbon trade markets.

The policy aims to encourage the development of a low carbon economy nationwide. Companies who keep their emissions below their targets can sell their carbon credits to those exceeding their limits and profit from the trade.

Source: China Daily