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China May Start Its First City-Wide Carbon Cap-and-Trade System

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Bloomberg News
March 5, 2010

China may start its first city-wide carbon cap-and-trade system by June as the world’s biggest polluter seeks to rein in emissions, a project adviser said.

The northeast port city of Tianjin plans to impose a mandatory limit on energy used to heat buildings in the first half of this year, John Shi, chief executive officer of the carbon credit trader Arreon Carbon U.K. Ltd., said in an interview. Property managers able to reduce energy use to below the limit will earn credits they can then sell, he said.

“Pursuing energy efficiency has truly risen to the top of the agenda for local governments,” Shi said yesterday from his office in Beijing. The Tianjin plan is “a way to mobilize capital and mobilize technology.”

China has pledged to reduce its carbon-dioxide output per unit of gross domestic product by 40 percent to 45 percent by 2020 compared with 2005 levels. Premier Wen Jiabao in January called pollution in the nation “grim” and said the government will strictly limit emissions from coal-powered generators, cement and steel producers.

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This article was posted: Friday, March 5, 2010 at 5:14 am

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