Reuters: China will launch two new pilot carbon trading schemes this week in Beijing and Shanghai as it strives to cut soaring rates of greenhouse gas, reduce choking smog and determine the best system for a nationwide roll-out.
China, the world's biggest source of climate-changing carbon emissions, is under domestic pressure from its population to counter air pollution and has pledged to cut the 2005 rate of CO2 emissions per unit of GDP growth by 40-45 percent by 2020.
As U.N.-led climate talks stumbled...