China Opened a National Carbon Market. Here’s Why It Matters

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https://www.nytimes.com/2021/07/16/business/energy-environment/china-carbon-market.html]

Source: By Chris Buckley, The New York Times. 

Excerpt: China, the world’s biggest source of greenhouse gas pollution, opened a national carbon emissions trading market on Friday, a long-awaited step aimed at fighting climate change. The market turns the power to pollute into an allowance that can be bought and sold, and is part of an array of policies that the Chinese government is putting in place as it tries to demonstrate its commitment to significantly reducing carbon dioxide emissions in the coming decades. ...China’s leader, Xi Jinping, has sought to cast his country as an environmentally responsible world power, and has pledged to tackle climate change. The new carbon market, which is immediately the world’s largest by volume of emissions, is the latest of Beijing’s efforts....  

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