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China carbon market to launch in 2016 following US emissions deal

2014-11-25 11:58:00| Climate Ark Climate Change & Global Warming Newsfeed

BusinessGreen: China will start a nationwide carbon market within the next two years as part of a pledge to cap emissions by 2030. The mechanism is due to start in 2016 and rules for trading permits through the cap-and-trade scheme may be announced by the end of this year, Bloomberg reported Su Wei, an official at the climate change department under the National Development and Reform Commission, as telling a press conference this week. President Xi Jinping agreed a landmark deal with US counterpart Barack...

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