Trading in China’s ETS is a system that would create the world's largest carbon market and It brings China a step closer to achieving President Xi Jinping’s goal of net zero emissions by 2060.
China is the world’s largest carbon market and would be twice as big as the EU scheme. The annual carbon emissions of just the first batch of companies involved would amount to more than 4 billion tonnes, making it the world’s largest carbon market and putting Europe in second place.
Analysts said that although it was an important step, China’s macroeconomic policies aimed at weaning the country off coal would have a bigger impact on carbon emissions.
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