Yale Environment 360: China has revealed details of a carbon cap-and-trade pilot project that will be launched next month, a much-anticipated market attempt to rein in carbon dioxide emissions by the worlds biggest emitter. The first phase of the program, which will be implemented in the southern city of Shenzhen, will cover 638 companies that produce 38 percent of the citys carbon emissions, according to the city branch of the governments National Development and Reform Commission (NDRC). The system will impose caps...