China Moves towards Launch of Carbon Trading Scheme
View on The Financial Times website"Equally important to credit allocations will be setting up a monitoring, reporting and verification system to enforce compliance, according to Jeremy Schreifels, an expert in carbon trading and a fellow at Resources for the Future, a US environmental non-profit organisation. 'If you look at California or the EU, their ETS [emissions trading scheme] programmes were clear about what regulations were going to be implemented, but those regulations weren’t enacted for a few years,' said Mr Schreifels. 'The way it looks like it’s going to happen with China’s ETS is compliance will start right away. There is not a lot of time for industry to make changes, which also means the emissions reduction required can’t initially be too aggressive,' he added."
