China's carbon market lacks transparency

January 21, 2014 9:00 PM

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China's carbon market lacks transparency

[BEIJING] China's moves to establish the world's second-biggest emissions trading market risk being undermined by a lack of transparency, including a failure to release data on permits issued and even whether emissions will go up or down under the schemes.

Guangdong province and four Chinese cities have launched carbon markets, with two more pilots due to be launched over the next few months, as the world's top emitter of greenhouse gases seeks to limit its impact on climate change.

Successfully operating the pilot schemes is seen as vital for the foundations of a national scheme for China, particularly after the missteps Europe has faced developing the world's biggest emissions market.

"It is crucial for any emissions trading scheme to publish reliable and timely information about how many permits are issued and will be issued in future years, and how this compares to previous emissions levels," said Frank Jotzo, a professor at the Australian National University's Climate Change Institute.

Source: businesstimes.com.sg

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