"Busy First Day for China's Biggest Carbon Market"

"The first day's trading in what will be by far the largest carbon market in China kicked off briskly yesterday with pricing in line with expectations, as Beijing continues its drive to slow its rapid growth of heat-trapping emissions."

"Volumes in Guangdong's carbon permit market, expected to be the world's second largest in terms of carbon dioxide covered, in early trade surpassed full-day totals during the launches of the country's three other carbon exchanges.

China, the world's biggest emitter of greenhouse gases, wants to use markets to achieve its target to cut emissions per unit of GDP to 40-45 per cent below 2005 levels by 2020 at the lowest possible cost."

Reuters had the story December 20, 2013.

Source: Reuters, 12/20/2013