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Shanghai to begin carbon trade pilot in 2013

07-27-2012 10:43 BJT

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Shanghai is bringing in a new scheme to make companies with large carbon footprints pay for their excessive emissions. The city is launching a carbon trade platform in a bid to curb the emissions of over 200 companies across 16 industries.

The move comes on foot of a decision by the National Reform and Development Commission earlier this year to call on 7 cities and provinces to set up carbon trade markets. The policy aims to encourage the development of a low carbon economy nationwide. Companies who manage to keep their emissions in line can sell their carbon credits to those exceeding their limits and profit from the trade.

Editor:Wang Xiaomei |Source: CCTV.com

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