CARBON CREDIT: China's Chongqing to launch carbon market trading on June 13 | Reuters

READ FULL ARTICLE, CLICK HERE" China's Chongqing to launch carbon market trading on June 13 | Reuters: "The scheme will cap greenhouse gas emissions from 242 firms across all sectors of the economy that have emitted at least 20,000 tonnes of CO2 equivalent per year since 2008.

The government has issued a total of 125 million permits for the year 2013, and has said that while all permits will be handed out for free, the total amount will be reduced by 4.13 percent per year.

Given the late start of the scheme, firms have been given until June 2015 to comply with their targets for 2013 and 2014.

Chongqing, whose economy grew 12.3 percent to $203 billion in 2013, is a major manufacturing hub of vehicles and consumer goods.

Sun Cuihua, a senior climate official at the National Development and Reform Commission (NDRC), said earlier this week that the central government aims to begin pilot trading in a national emissions market in 2016 or 2017, making it fully operational in 2020."



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