Various Countries Intend to Set Up Their Own Carbon Trading Markets

Various Countries Intend to Set Up Their Own Carbon Trading Markets

A few days ago, Christiana Figueres, the U.N. negotiator of international climate talk, indicated that no visible progress during the climate talk probably forced various countries to set up their own carbon trading markets. If these trading markets are really built, the U.N. trading system can be seriously threatened. In addition, Christiana Figueres indicated that the Clean Development Mechanism can probably fail in future. The Clean Development Mechanism is one of the three flexible mechanisms under Kyoto Protocol. It method that the developed countries which can not fulfill the intended emission-reducing responsibilities can carry out the emission-reducing projects or buy the greenhouse gas emissions in developing countries. Christiana Figueres advised that various countries can cooperate with each other to set up a new carbon trading market which will not be administrated by the U.N. She agreed that the Clean Development Mechanism can not be limited by the rules of Kyoto Protocol and countries in the world can build new markets.

In July, New Zealand came up with a new trading system of carbon emission. China is thinking of domestic quota and trading system. Japan probably supplements the overseas projects in order to keep consistent speed with the carbon offsets in other Asian countries. The carbon trading market allows the enterprises to buy and sell carbon credits. If several trading markets work at the same time, it is necessary to set up uniform standard of carbon credits. The Bloomberg shows that as the two largest carbon manufacturers in the United Nations, China and India can produce carbon appropriate for the trading system of carbon emission in Europe. According to Christiana Figueres, the carbon trading is not the only way to sustain the emission in developing countries.

During the Copenhagen climate talk, the panda standard has been published. The panda standard is China’s first standard of voluntary emission reduction. It method that the China’s fight for discourse strength of carbon trading has extended to the spotlight of carbon industrial chain. In the international carbon trading system, the countries with the discourse strength can clarify the projects, control the emission-reducing course of action and make the concrete methods. That is to say, it is important for various countries to grasp the discourse strength. Although panda standard is just a voluntary standard of emission reduction, it is the first time for China to make her own voice. In the future, the voice of China will become more and more important in the international carbon trading market. In addition, the technology of extracting chemical substances like xylene from carbon has been greatly improved, which can also accelerate the development of carbon trading in the world.

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