Subscribe free to our newsletters via your
. Energy News .




ENERGY NEWS
World's top carbon emitter China expands emissions trading
by Staff Writers
Shanghai (AFP) Nov 26, 2013


China's commercial hub Shanghai began carbon emissions trading on Tuesday, as the nation which is the world's biggest carbon emitter expands a pilot scheme.

Shanghai is the second Chinese city after Shenzhen to trade carbon to try to limit emissions, with the capital Beijing to follow later this week, state media said.

Under the scheme, companies which exceed their quota of carbon emissions can buy unused allocations from others -- providing a market incentive to control pollution.

But the official Xinhua news agency said only 191 companies were taking part in Shanghai, a huge city of 23 million people. They included firms from the steel, chemical and aviation sectors, it added.

Analysts say the scheme's limited range means it is unlikely to have much impact.

The Shanghai government has set annual carbon emissions quotas for the companies for 2013-2015, but has not publicly revealed them.

Participating firms could face fines of up to 100,000 yuan ($16,400) and lose government subsidies if they fail to abide by the scheme, the Shanghai Daily newspaper said.

On the first day of trading, the market conducted three transactions for 5,000 tonnes, 4,000 tonnes and 500 tonnes, the Shanghai Environment and Energy Exchange said, at prices from 25 to 27 yuan per tonne of carbon.

The exchange in a statement praised carbon trading as a "major mechanism to promote energy conservation and reduce emissions", according to a statement.

China has approved carbon trading in seven locations, including the cities of Tianjin and Chongqing, as well as Hubei and Guangdong provinces.

Carbon dioxide (CO2) is among the greenhouse gases which contribute to global warming and climate change.

Because of its reliance on coal and heavy industry, China has emerged as the world's top producer of carbon emissions, ahead of the United States.

China has no targets to reduce total carbon emissions and government officials have said they will continue to rise until around 2030.

.


Related Links







Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





ENERGY NEWS
Oettinger reassures Norway on undersea grid link to Britain
Oslo, Norway (UPI) Nov 25, 2013
A planned power interconnector between Norway and Britain, threatened by regulatory hurdles, is important to Europe's future, the EU's energy chief says. EU Energy Commissioner Gunter Oettinger said - after a Friday meeting with Norwegian Minister of Petroleum and Energy Tord Lien in Oslo - a proposed 1,400-megawatt undersea line between the two countries can be a key part of Europe's ... read more


ENERGY NEWS
World's top carbon emitter China expands emissions trading

Are Canadian Energy Stocks Set for a Rebound?

Climate: Gloves off between EU, developing countries

Oettinger reassures Norway on undersea grid link to Britain

ENERGY NEWS
Chevron alleges Ecuador fraud in oil pollution case

Iran deal 'will lead to surge of oil to Asia'

JPL to Assist in Oil and Gas Tech Development

Optimizing electronic correlations for superconductivity

ENERGY NEWS
Small-Wind Power Market to Reach $3 Billion by 2020

Siemens achieves major step in type certification for 6MW Offshore Wind Turbine

IKEA invests in Canadian wind project

High bat mortality from wind turbines

ENERGY NEWS
Stanford study could lead to paradigm shift in organic solar cell research

Bio-based solar cell

The 'Golden Rules' for increasing sustainable electricity in developing countries

Renewables Provide 99% of All New US Electrical Generating Capacity in October

ENERGY NEWS
Pakistan launches largest nuclear power project

AREVA and Wroclaw University of Technology sign memorandum of understanding

Romania, China ink nuclear cooperation agreements

UN nuclear watchdog in Japan for Fukushima review

ENERGY NEWS
Microbiologists reveal unexpected properties of methane-producing microbe

Direvo completes lab scale development of low cost lactic acid production

Scripps Oceanography Researchers Engineer Breakthrough for Biofuel Production

Let's just harvest invasive species and the problem is solved

ENERGY NEWS
"Gravity" director wants China to take him into space

Teal Identifies Over 3,000 Payloads For Launch By 2032

China shows off moon rover model before space launch

China providing space training

ENERGY NEWS
Pacific region faces economic risk from climate change: ADB

Even if emissions stop, carbon dioxide could warm Earth for centuries

New faultlines widen at UN climate talks

Fraught UN talks reach climate deal consensus




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement