China, the world’s largest polluter, launched on Monday an emissions trading scheme as part of its efforts to become a carbon-neutral economy by 2060. The Chinese authorities introduced as of February 1 a set of rules for carbon emissions trading management, a step toward creating a nationwide unified emissions trading system (ETS), Chinese news agency Xinhua reports. As many as 2,225 power companies in China will have carbon dioxide (CO2) emission caps, and they can now trade their emission quotas via the system. Under the emissions trading scheme, firms that have exceeded their emission caps will be able to buy emission quotas from companies with lower emissions that haven’t reached their caps yet. China aims to have its emissions peak by 2030 and to be carbon neutral by 2060. Experts, however, are concerned that China continues to expand its coal production, while the fines for firms that exceed their […]