China is determined to launch its national ETS in 2017, but struggles with the complexity of setting up a well-designed carbon market
by Dr. Ralph Westermann
On 3 September 2016, China and the US ratified the Paris Agreement just before the G20 Summit held in Hangzhou, the capital of Zhejiang Province in eastern China. Only one month later, on 4 October, the European Union also approved the ratification of the global climate deal. This will enable the agreement to come into force less than a year after it was signed in Paris and right in time for the next COP 22 climate summit that will be held from 7 to 18 November in Marrakech, Morocco.
Speaking at the opening of the G20 business forum, China’s president Xi Jinping made no direct reference to his country’s decision to ratify the Paris agreement. He did say, however, that China would continue to tackle the causes of climate change and environmental degradation, and even vowed to close coal mines and steel mills as part of that effort.
This article has been published by the Wuppertal Institute for Climate, Environment and Energy in Issue 4, November/December 2016, of the Carbon Mechanisms Review, pp. 32-39. To obtain the full text (English only), please click on the download link below.
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|Publication Date||November 4, 2016|
|Partner||Dr. Ralph Westermann|