China’s Cap-and-Trade Decisions

China’s Cap-and-Trade Decisions

Photo: Beijing’s financial district. Sean Pavone /Shutterstock.com
Photo: Beijing’s financial district. Sean Pavone / Shutterstock.com

In the lead-up to the 2015 Paris climate change conference, policymakers stressed the need for creation of integrated carbon markets and called for linking new climate financing mechanisms with the United Nations-organized Green Climate Fund (GCF) based in South Korea. Both the U.S. and China have committed to accelerating the transition to low-carbon development internationally. Through a $3 billion per year pledge to GCF by the U.S. and a new annual $3.1 billion climate finance guarantee by China to support other developing countries to combat climate change, the two countries have committed to enhance multilateral climate cooperation. Read more>>

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