The Second-Largest Carbon Market In The World In China

[***super_nova***]

On Thursday China began trading in Guangdong’s carbon permit market, which is expected to be the world’s second-largest market after the European Union in terms of carbon dioxide emissions covered. It is far larger  than either the Australian or Californian emissions trading schemes.

The Chinese government has approved seven pilot carbon trading exchanges in total, with Shenzhen being the first to launch in June followed by Beijing and Shanghai. However, Guangdong, which is home to over 100 million people and has an economy larger than Indonesia, far outweighs the other pilot projects launched to date. These pilot projects are working toward a national trading system that could be introduced within the next few years, the governmen he said.

http://thinkprogress.org/climate/2013/12/19/3088811/chinas-biggest-carbon-market-guangdong/

[monman12]

Meanwhile,  on average, 1 coal fired power station opens every week in China.

"Scientists say that due chiefly to an increase in coal-burning in China, emissions of carbon dioxide from fossil fuels and cement production reached a new high in 2012.

Output of CO2 from these sources was a record 35 billion tonnes, 58 per cent above 1990, the benchmark year for calculating greenhouse-gas levels"

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[topsidesoul]

What is wrong with Greenhouse gases?