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China becomes world's second-largest carbon trading market

11:36 AM MDT | June 12, 2014 | Deepti Ramesh

The Chinese government says that China is now the world's second-largest carbon trading market following the European Union (EU). According to data released by the National Development and Reform Commission (NDRC; Beijing), China’s top economic planning agency, Chinese enterprises traded over 3.85 million m.t. of carbon emission quotas as of 23 May, and these quotas were sold for 125 million renminbi ($20.1 million),the government says. In April 2014, Hubei Province in central China launched a carbon trading market, making the province the sixth location in...

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