China will on Friday announce a national scheme setting a price on greenhouse pollution in 2017, a move likely to affect businesses around the world.
The plan for a cap-and-trade system President Xi Jinping is due to unveil in Washington should see China create the world’s largest carbon market, dwarfing the EU’s 10-year-old emissions trading scheme.
The officials said China would set a start date of 2017 for an already planned national carbon trading rollout, and make commitments to prioritise renewable power, curb greenhouse gas emissions from heavy vehicles and limit public investment in polluting projects.
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