BEIJING, Jan. 6 (Xinhua) -- China's environmental apparatus on Tuesday rolled out interim rules for carbon emissions trading management, which will take effect on Feb. 1.
The rules are a key step to China building a national emissions trading system (ETS).
In the initial phase, 2,225 power firms that emit over 26,000 tonnes of greenhouse gases per year can start trading their emission quotas, according to the Ministry of Ecology and Environment (MEE).
This is the first time the country has clarified the responsibilities of the enterprises to cut greenhouse gas emissions, said Li Gao, head of the department of climate change under the MEE. This will help boost green development, Li added.
China since 2011 has piloted emissions trading at the regional level involving seven provinces and cities such as Beijing, Shanghai and Shenzhen amid its drive to build a national ETS.
According to the World Bank, there are two types of carbon pricing: ETS and carbon taxes. An ETS, sometimes referred to as a cap-and-trade system, caps the total level of greenhouse gas emissions. However, it then allows those industries with low emissions to sell their extra allowances to larger emitters.
The country has announced it would strive to bring carbon dioxide emissions to a peak before 2030 and become carbon neutral before 2060. Enditem