Over the weekend, China announced it was moving forward with plans for a massive, nationwide cap-and-trade program intended to help combat global warming. Here’s why China is doing this now, and what we know about the plan so far.
China is about to go green in a big way.
At least that’s what Sun Cuihua, a climate change official with the National Development and Reform Commission (NDRC), China’s main economic planning body, suggested this week. He confirmed that Beijing in 2016 would introduce a nationwide cap-and-trade program, in which carbon emissions are limited and polluters are incentivized to reduce emissions. Meanwhile, the U.S.’s own efforts to pass a similar system nationwide have long been dead in the water.
The Chinese have six pilot cap-and-trade programs that operate in select cities and provinces, which the NDRC trumpeted as part of the country’s Policies and Actions for Addressing Climate Change. If fully implemented, the move has the potential to be a significant step for one of the world’s largest economies — though important questions remain about the project’s future direction.
Are we loosing respect in the world? Do our politicians still deny global warming has a human factor that needs to be addressed. If Congress does not act, what choice do we have?