"Our country already has the basic conditions necessary for instituting an emissions quota and trading system," the note from the People’s Bank of China reportedly read, under the title: "Establish a cap and trade system, implement energy saving and emissions reduction.
" The plan, and key emissions trading concepts, were laid out at an afternoon seminar for top officials. The note suggests the country establish a national target, decide how to divide it between the regions and then give them discretion to set quotas for companies in their area.
While a cap and trade system could cover a variety of pollutants including sulphur dioxide, extensive data on climate change in one presentation suggested greenhouse gases would be one target, Reuters reported.
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