Concrete emissions trade legislation urged

08:41, September 13, 2010      

Email | Print | Subscribe | Comments | Forum 

By Li Woke

China needs to legislate emissions trading as part of an overall effort to help the nation achieve its sustainable development goals, experts said ahead of the World Economic Forum in Tianjin.

"China should legislate or enact policies on the cap-and-trade system," said Wu Changhua, China director of the Climate Group (CG), a London-based non-governmental organization. "(Otherwise), with the lack of international (collaboration in this area), China is (merely) trying or testing carbon emissions trading."

Emissions trading, or cap-and-trade, is a market-based approach used to control pollution by providing economic incentives for achieving reductions in the emissions of pollutants. International emissions trading, which was first recognized in the Kyoto Protocol and adopted in 1997 as part of the United Nations Framework Convention on Climate Change, will expire after 2012.

The Kyoto Protocol also raised the Clean Development Mechanism (CDM), under which industrialized countries could offset their emissions by investing in low-carbon projects in, or buying carbon credits from, developing countries like China and India, rather than cutting their own emissions.

Environmental critics say rich nations could be wasting billions of dollars on carbon finance because some of the largest projects funded by the CDM are a golden goose for chemical makers that fail to make meaningful emission cuts.

By the end of 2010, $150 billion will be traded in global carbon markets, including one third of that amount in China. So far, China has established around 20 carbon trading markets, allowing companies to trade greenhouse gas emission credits, such as carbon dioxide.

The failure to extend or replace the treaty in Copenhagen last year has raised questions about emissions trading's future after 2012. "Despite the international protocol shortage, China must have a solid commitment after 2020 on cap-and-trade," Wu said. "Building up incentives ... on pollutant emissions and waste-control technologies is feasible for the country."

In addition, experts suggest the Chinese government also offer tax incentives, subsidies or other preferential policies as well as increase investment in technological research to ensure a successful transition from a traditional economy to a low-carbon economy.

Source: Global Times

(Editor:祁澍文)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • The romantic myth of the Aegean 
The Aegean Sea is between the Greece Peninsula and Asia Minor Peninsula, dotted with many beautiful scenery islands, like a paradise on earth.  The ancient city of Troy in the east coast of Aegean, Turkey, and Mycenaean sites in the west bank of Greece, which have been archaeological discoveries, now are the must visit places in journey of the Aegean Sea. Above, these desolate dilapidated stone, the sunny blue sky and white clouds and vessels roaming at sea, arriving and departing travellers, add more romantic to the sea and the islands.
  • Chinese Permanent Representative to the United Nations Li Baodong (R) welcomes UN Secretary-General Ban Ki-moon in New York, the United States. Sept. 29, 2011. The Chinese permanent delegation to the UN held a reception on Thursday to celebrate the 62nd anniversary of the founding of the People's Republic of China and the 40th anniversary of China's returning to the UN. (Xinhua/Shen Hong)
  • Chinese ambassador to Bulgaria Guo Yezhou delivers a speech during the reception in Sofia, capital of Bulgaria, on Sept. 29, 2011. The Chinese Embassy in Bulgaria held a grand reception here on Thursday to celebrate the 62nd anniversary of the founding of the People's Republic of China. (Xinhua/Wang Meng)
  • A model presents creation by Mexican designer at Mexico Fashion Week, Mexico City, Sept. 29, 2011. (Xinhua/AFP Photo)
  • Tourists walk in front of the Reichstag building in Berlin, capital of Germany, Sept. 29, 2011. Fine weather on Thursday added to the mood of outdoor leisure for residents and tourists in Berlin. (Xinhua/Ma Ning)
  • Dancers from National Ballet Troupe of Spain perform during a rehearsal for the press at Taipei, southeast China's Taiwan, Sept. 29, 2011. The troupe will put on Dualia and La Leyenda, two folk dances here from Sept. 30 to Oct. 2. (Xinhua/Wu Ching-teng)
Hot Forum Discussion