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China Tames Ambitions for World’s Biggest Carbon Trading Market

Sept. 9, 2020, 2:24 AM

China’s plans to control emissions with the launch of a national carbon market, which will be the world’s biggest, may start off more fossil-fuel friendly than its existing regional systems.

A proposal for the rules governing the national program, known as an allowance allocation plan, is being circulated by the Ministry of Ecology and Environment for feedback from industrial participants, according to people with knowledge of the issue.

The plan offers some of the most concrete examples yet as to how China’s trading scheme would work. The rules haven’t been finalized and details may change, said the people, who asked ...