The Ministry of Environmental Protection, the Chinese Ministry of Finance, and Jiangsu Provincial Government have started pilot work on the paid use and trading of emission rights in Lake Taihu Basin.
It is reported that the pilot work will change the current distribution methods of major pollutants emission targets and the use of emission rights. And it will also encourage enterprises to set up proactive and restricting mechanisms to protect the environment and reduce emissions.
Work will be launched in four areas: implementing charging mechanisms for emission rights; establishing primary markets for emission rights; setting up an emission rights trading platform; and strengthening supervision of the trading market.
