China to pilot carbon emission exchange: report
By ECOTRADE on 7/20/2011 02:27:51
To get the scheme going, Beijing will widen the difference in electricity tariffs between power-intensive sectors and other industries, Xie Zhenhua, vice-minister of China's economic planner the National Development and Reform Commission (NDRC), was quoted as saying.
Xinhua did not say when such a scheme will be launched.
Beijing would also improve laws, regulation and taxation policies to encourage energy conservation, and ask financial groups to fund low-carbon emission projects, Xinhua said.
Development of industries such as services, renewable energy and information technology would be welcomed by Beijing, while excessive growth in power-intensive sectors would be discouraged, it added.
Companies and governments around the world are turning to emissions trading as a way to combat climate change and join a world carbon market worth $142 billion last year.
An official from the NDRC had said in April that China would pilot six emissions trading schemes by 2013, and set up a national trading platform by 2015.
Last month, the NDRC reiterated a ban on favorable power tariffs for energy-intensive sectors as the world's second-largest electricity consumer struggles to deal with its worst power crisis in seven years.
Source : REUTERS