Tax to curb carbon ruled out

China | 16 Nov 2017

China's top climate official has ruled out any immediate introduction of carbon futures as well as a carbon tax to help the country finance efforts to cut climate- warming greenhouse gases, the China News Service reported.

"In the initial stage we will not do carbon futures because we are worried that suddenly entering the futures market with no experience could cause chaos in the market," said Xie Zhenhua, special representative on climate change, speaking at talks in Bonn.

China, the world's biggest source of carbon dioxide, has already set up seven pilot regional carbon trading platforms and was due to launch a nationwide exchange this year.

Xie said preparations have been completed and the scheme was awaiting cabinet approval.

REUTERS

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