Beijing considers domestic emissions trading

The Chinese central bank has drawn up tentative plans for a national emissions trading scheme covering everything from greenhouse gases to water pollutants, according to Reuters.

"Our country already has the basic conditions necessary for instituting an emissions quota and trading system," the note from the People’s Bank of China reportedly read, under the title: "Establish a cap and trade system, implement energy saving and emissions reduction.

" The plan, and key emissions trading concepts, were laid out at an afternoon seminar for top officials. The note suggests the country establish a national target, decide how to divide it between the regions and then give them discretion to set quotas for companies in their area.  

While a cap and trade system could cover a variety of pollutants including sulphur dioxide, extensive data on climate change in one presentation suggested greenhouse gases would be one target, Reuters reported.

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