It took more than a decade for Europe’s carbon market to start cutting emissions, but the world no longer has the luxury of waiting that long for the world’s biggest polluter to improve its system
ByBloomberg News 18 April 2022 at 17:00 GMT+7
China’s carbon market, hindered by low prices and thin trading, has struggled to become a useful tool in the country’s efforts to rein in its world-leading emissions. Now, accusations of data fabrication and questions over verification methods have added a new roadblock.More fromBloombergGreen
A recent provincial inspection unearthed widespread problems with emissions data submitted by power plants, who have to pay for every ton of carbon dioxide they generate that exceeds an allocated amount. Four consulting firms that help utilities prepare their submissions were criticized last month in connection with negligence or falsifying data.
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