Lessons Learned from China's ETA Pilot Programs, says CEF Director Jennifer Turner in Xinhua News
China's march toward a low-carbon economy and establishing a global energy network will bring more opportunities than risks. The commitment of a nation-wide carbon market will make China's intentions clear to businesses and investor about its shift to a low-carbon economy.
In September, President Xi Jinping told the UN Sustainable Development Summit that China wants discussion on establishing a global energy network to meet the global power demand with clean and green alternatives. China is promoting green, low-carbon, climate resilient and sustainable development through institutional innovation, policy and action.The government will also encourage banks and enterprises to issue more green bonds, to establish green development funds that support environmental management and protection.
In 2017, China will launch a national emissions trading system (ETS) covering power generation, steel, cement, and other high-emitting sectors. China has ETS pilot programs in Beijing, Tianjin, Shanghai, Chongqing and Shenzhen, and Guangdong and Hubei provinces. Although the ETS pilot programs are not universally successful yet,Jennifer Turner, director of the China Environment Forum at the Woodrow Wilson International Center for Scholars, sees them as a useful experiment of what could be expanded nationally.
By committing at the highest level to such a program, China is making its intentions clear to businesses and investors about its shift to a low-carbon economy.
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