Changhua Wu hails carbon trading regulation a significant step forward
- 09 July 2012
BEIJING: The Chinese Government has released a regulation on domestic voluntary carbon trading and market development, which puts the nation on track towards achieving a compulsory carbon market.
“This regulation marks a significant step forward in China in developing the domestic carbon market,” said Changhua Wu, Greater China Director, The Climate Group.
She added: “It sets clear guidelines and requirements of the technical and institutional elements when domestic voluntary carbon market is concerned. While still at a very early stage, today China is on the right track towards a nation-wide compulsory carbon market by establishing the infrastructure, technical guideline, as well as institutional structure needed to accelerate progress.
“This effort builds upon the practice and experience of China’s active participation in the Clean Development Mechanism at the global level.”
Read the translated carbon trading regulation document here.