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China Develops Its Carbon Emission Trading Market
   2015-02-12 16:41:25    CRIENGLISH.com      Web Editor: Xie Tingting

2014 was the hottest year on record, and concerns about global warming are becoming ever more difficult for politicians to ignore or discredit. Carbon emission trading is a way for countries to deal with the economics of pollution: the creation of it, and efforts to reduce it.

A new round of United Nations' climate talk is being hosted in Geneva from February 8 to 13. Many countries are closely focused on China's actions regarding carbon emissions. The European Union Emissions Trading Scheme (EUETS), who is hosting the meeting, has already recognized China's impressive efforts toward this worldwide issue.

According to the European Commission Director Mary Veronica Tovsak Pleterski, EUETS has demonstrated that companies must be serious about the costs of excessive carbon emissions, and about obeying guidelines.

Since 2014, the EU has helped China build up its emission trading infrastructure. EUETS believes that China will be in a strong position to start moving towards a nationwide emission trading system.

In spite of numerous successes, problems still exist. Now a document has been submitted which will give future market participants more predictable prices on the carbon emissions.

As all countries are aware that China has been making significant efforts in terms of controlling its carbon emissions, Pleterski thinks that China's actions today are particularly important to encourage other partners to join in.

To learn more about Pleterski's opinion, you can listen to the recent edition of People in the Know.

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