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Research On China's Carbon Balance Trading Framework Published
November 10, 2008 |
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| Category: Environment
The China Environmental Culture Promotion Association and the China Institute of Development Strategy Studies held a seminar and press conference in Beijing about research on China's carbon balance trading framework report.
The report from the recent conference looks at taking carbon as the rigid target for the monitoring, identification and control of economic activity; and it suggests promoting the "carbon source-carbon sink" trading system in Chinese provinces.
After learning from the successful experience of advanced Western countries, the project team working on the report has proposed that a reasonable carbon balance model in China is the foundation for a carbon fund system and an ecological compensation system. And the carbon source-carbon sink balance account of each province will be the basis of the carbon source-carbon sink trading system.
Pan Yue, the vice minister of China's Ministry of Environmental Protection and chairman of China Environmental Culture Promotion Association, stated that a high carbon model will greatly restrain China's future development, and a low carbon economy will be a major breakthrough for China to build an ecological civilization.
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Will be very interested in following the developments of a carbon trading scheme in China with more and more companies in the region recognising the cost of extreme weather events (caused by climate change) on their operations.