China launched its second pilot carbon trading platform on Tuesday in Shanghai, as the world’s largest emitter of greenhouse gases experiments with market-based systems for reducing pollution.
Almost 200 local companies have signed up to participate in the Shanghai Environment and Energy Exchange. Rules signed into effect by the city’s mayor earlier this month threaten fines of up to Rmb100,000 ($16,400) for companies that did not comply with emissions limits.
China’s air pollution is a topic of increasing discontent for its more prosperous urban citizens, and the country has unveiled a series of efforts to control pollution in coastal cities including cutting coal use.
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