China to launch national cap-and-trade plan in 2017, US announces
Source: The Guardian
China, the world’s biggest carbon polluter, will launch a national cap-and-trade scheme in 2017, the White House said on Thursday.
The move, announced on the eve of a summit in Washington between Presidents Barack Obama and Xi Jinping, would make China the world’s biggest carbon market, overtaking the European Union, and could strengthen global efforts to put a price on carbon.
The US and Chinese leaders will also commit to the decarbonisation of their economies over the course of the century, campaign groups briefed on the negotiations said. G7 countries made a similar call at their summit in Germany this year, but the support from China - as a developing country and the world’s biggest emitter - would send an important signal ahead of November’s Paris climate meeting that global economies were moving away from fossil fuels, the campaigners said.
Read more: http://www.theguardian.com/world/2015/sep/24/china-national-cap-and-trade-deal
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