IHS Chemical Week

China becomes world's second largest carbon trading market

11:37 AM MDT | June 12, 2014

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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