China Is Dawdling on Carbon Trading
- China missed 2018 target to finalize carbon trading rules
- Delays due to shifting climate change role to new ministry
Emissions rise from cooling towers at a coal-fired power station in Tongling, Anhui province, China.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
A bureaucratic reshuffle has left China months behind in its preparation to launch a national carbon market, potentially slowing efforts to restrain greenhouse gas emissions by the world’s biggest polluter.
The delays in the initial phase of development are due to a regulatory restructuring last year that saw responsibility for the carbon market moved to the new environment ministry, according to an adviser to the Chinese government on climate change policies. Despite the hiccup, the nation should still be able to meet its 2020 launch target, according to the adviser, Ma Aimin.