Carbon Trading Beats Carbon Taxes In Cutting Emissions, Global Study Finds
carbonherald.com
Carbon Trading Beats Carbon Taxes In Cutting Emissions, Global Study Finds
Carbon trading schemes are more effective than carbon taxes at reducing greenhouse gas (GHG) emissions, cutting fossil fuel consumption, and accelerating the adoption of renewable energy, according to new research covering the world's 100 largest economies.
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China's long-awaited national carbon emission trading scheme (ETS) made its debut on Friday with 4.1 million tonnes of carbon dioxide quotas worth 210 million yuan ($32 million) changing hands, Shanghai Securities News reported. It is the largest carbon market globally by volume with more than 2000 power plants, responsible for more than 4 billion tonnes of carbon dioxide emissions, included in the first phase of trading. | CGTNEurope
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