China intends to launch the world's largest "carbon market"

The PRC has unveiled an ambitious plan to regulate greenhouse gas emissions into the atmosphere, which is described as a "carbon market." For all its participants, standards are set for the permitted volumes of carbon dioxide production, and then free trade begins. Those who have surplus emissions should buy out quotas for them from those who pollute the environment less and vice versa.

The scheme is in many ways reminiscent of the European project of 2005, which failed due to too loyal conditions for its participants, so the Chinese intend to act differently. The main condition is that a single global system for accounting for greenhouse gas emissions in the country will be created to regulate the carbon market. Now in this area everything is too "smoky", but the Chinese authorities intend to restore order with a firm hand.

The second component of the project is benefits and investments for those who will introduce methods of cleaning emissions and master "green" technologies. That is, it will become a separate line of business that will make it possible to actually earn money, and not trivially speculate on the sale of free volumes of emissions. The plan provides for the transfer of 20% of the energy of the entire huge country to energy sources from non-fossil raw materials by 2030.

At the first stage, 1, 700 Chinese companies will become participants in the carbon market, and it will operate only within the country. There is little point in aiming at world domination when the same USA is demonstratively withdrawing from the Paris Treaty. But if China succeeds in launching and establishing this market, then it will become a role model for other powers.