China announced new rules for its carbon market that will increase the number of free allowances that power plants can obtain, potentially cooling a rally that has sent permit prices to record levels.
About 8 million tons’ worth of additional emission permits will be created, according to the London Stock Exchange Group’s review of a long-awaited carbon trading plan that was published by the Ministry of Ecology and Environment on Monday. That’s more than the ministry had specified in an
The additional allowances could dampen a
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