China plans launch ceremony for carbon emission trading scheme on July 16 -sources

FILE PHOTO: A Chinese flag is seen on the top of a car near a coal-fired power plant in Harbin
FILE PHOTO: A Chinese flag is seen on the top of a car near a coal-fired power plant in Harbin, Heilongjiang province, China November 27, 2019. REUTERS/Jason Lee

July 14, 2021

BEIJING (Reuters) – China plans to host a launching ceremony for its national carbon emission trading scheme (ETS) on July 16, two people with knowledge of the matter told Reuters on Wednesday.

The ETS will involve some 2,225 power plants across China, responsible for about 4 billion tonnes of carbon emission each year.

The country will become the world’s largest carbon trading market by volume.

(Reporting by Muyu Xu and David Stanway; Editing by Christopher Cushing)