China to launch carbon market trading scheme
China is set to launch its first carbon trading scheme Tuesday in the southern city of Shenzhen. It’s one of seven pilot cities for emissions trading before a national rollout.
In the spot light, but compared with Shenzhen government officials, the city's ambitious carbon city blueprint is attracting more attention.
The plans were unveiled at a forum in Longgang, 50 kilometers away from downtown Shenzhen. This is what the city envisions for the future.
It's the miniature, and could be the start of another low-carbon city in Shenzhen. From the eco-friendly building material, efficient water irrigation and sewage treatment systems, to the electric cars driving by...the local government is hoping to set up an example for its urbanization.
Wang Rong, Shenzhen Municipal Party Secretary, said, “Via this forum and the low carbon city, all explorations, exchanges and innovations will enhance each other, and contribute to ecological preservation.”
Shenzhen is to hold Tuesday a high-profile launch of China’s first carbon trading market. This is a widely used method to put a price on carbon dioxide emissions produced by burning fossil fuels.
Shenzhen, already the most energy efficient city in Guangdong Province, has set an aggressive target of slashing emissions intensity by one fifth by the end of 2015.
"It’s a very market-oriented way to keep of CO2 emissions low and get it lower. It’s a natural way to lower emissions. The trading system itself has to prove itself. But i think it’s the best system at this moment applicable," Hugo Brouwer, Dir. of Energy Transition, Ministry of Economic Affairs, Netherlands, said.
For now, analysts are too conservative to predict the short-term positive impact of the trading scheme, at a time when China’s growth is losing oomph.
Investors say developing the eco-friendly industry will churn out more business opportunities.
"It’s very important because it allows China to work with partner countries. These are attractive elements where we can have infrastructure and innovative centers to develop these new industries," Michael Brook, Executive Manager of Film Auckland, NZ said.
China may be the world’s biggest emitter of carbon dioxide and made the largest contribution to the global rise last year, but its emission growth is slowing. Analysts say that shows China’s efforts to adopt renewable sources and improve energy efficiency are paying off.
The plans were unveiled at a forum in Longgang, 50 kilometers away from downtown Shenzhen. This is what the city envisions for the future.
It's the miniature, and could be the start of another low-carbon city in Shenzhen. From the eco-friendly building material, efficient water irrigation and sewage treatment systems, to the electric cars driving by...the local government is hoping to set up an example for its urbanization.
Wang Rong, Shenzhen Municipal Party Secretary, said, “Via this forum and the low carbon city, all explorations, exchanges and innovations will enhance each other, and contribute to ecological preservation.”
Shenzhen is to hold Tuesday a high-profile launch of China’s first carbon trading market. This is a widely used method to put a price on carbon dioxide emissions produced by burning fossil fuels.
Shenzhen, already the most energy efficient city in Guangdong Province, has set an aggressive target of slashing emissions intensity by one fifth by the end of 2015.
"It’s a very market-oriented way to keep of CO2 emissions low and get it lower. It’s a natural way to lower emissions. The trading system itself has to prove itself. But i think it’s the best system at this moment applicable," Hugo Brouwer, Dir. of Energy Transition, Ministry of Economic Affairs, Netherlands, said.
For now, analysts are too conservative to predict the short-term positive impact of the trading scheme, at a time when China’s growth is losing oomph.
Investors say developing the eco-friendly industry will churn out more business opportunities.
"It’s very important because it allows China to work with partner countries. These are attractive elements where we can have infrastructure and innovative centers to develop these new industries," Michael Brook, Executive Manager of Film Auckland, NZ said.
China may be the world’s biggest emitter of carbon dioxide and made the largest contribution to the global rise last year, but its emission growth is slowing. Analysts say that shows China’s efforts to adopt renewable sources and improve energy efficiency are paying off.
