|Study: More than 6 million could die early from air pollution every year, Azadeh Ansari, CNN|
Scientific American does give the report with some caveats, but as my title alludes, the Chinese - unlike the United States - is serious about addressing this national health issue. They will stumble, learn and eventually surpass us in a technical market we may find ourselves scrambling to catch up with them in. From the image above, I do understand Beijing's motivations.
BEIJING—As the United States reverses its climate policies, the world's top greenhouse gas emitter is in the midst of setting up a national carbon-trading system.
Chinese officials are preparing to launch an emissions market later this year that will cover roughly a quarter of the country's industrial CO2. Officials and nonprofit groups from the European Union, Australia and California have been advising the Chinese on their program design.
Expectations are tempered: Details of China's national system are still murky, but enough information has emerged that observers are skeptical it will be immediately comparable to existing programs, due to design features as well as the haste with which China is rolling it out.
"Initially, it's not going to be more robust than, say, California or RGGI or even some of the pilots," said Jeremy Schreifels, a visiting fellow at Resources for the Future who has been observing the market's evolution. He was referring to the Regional Greenhouse Gas Initiative covering nine Northeastern states.
China Is Preparing to Launch the World’s Biggest Carbon Market, Debra Kahn, Scientific American