How the market is taking on climate change
Of all the things one would expect to unite US Republicans and the Chinese Communist Party, a shared, pro-market approach to addressing climate change might be low down the list.
But this year will see the Chinese Communist Party embracing the power of the market by opening the largest emissions trading scheme in the world. It will be used by Beijing to accelerate the decarbonisation of its economy – and although China has promised to curb its emissions by 2030, it appears to already be ahead of schedule.
The architects of the Chinese carbon market took their inspiration from the United States, …read more