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Tianjin Climate Exchange
Tianjin Climate Exchange (TCX) is a domestic carbon market cap-and-trade scheme exchange (organized market), exchange. Jeff Huang is assistant chairman of Tianjin Climate Exchange and vice-president of Chicago Climate Exchange. It is China's first integrated exchange for trading of environmental financial instruments TCX is a joint venture between Chicago Climate Exchange, the municipal government of Tianjin and the asset management division (business), unit of PetroChina, the country's largest oil and gas producer. Cap-and-trade schemes are programs under which member companies commit to lowering their greenhouse gas emissions by a certain amount in a certain period of time and trade carbon credits generated by this. As China does not have a national cap on emissions, any such scheme would be voluntary, similar to the situation in the US when the Chicago Climate Exchange launched in 2003. History On September 25, 2008, Tianjin Climate Exchange, co-established by CNPC Assets Manag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carbon Market
Emission trading (ETS) for carbon dioxide (CO2) and other greenhouse gases (GHG) is a form of carbon pricing; also known as cap and trade (CAT) or carbon pricing. It is an approach to limit climate change by creating a market with limited allowances for emissions. This can lower competitiveness of fossil fuels and accelerate investments into low carbon sources of energy such as wind power and photovoltaics. Fossil fuels are the main driver for climate change. They account for 89% of all CO2 emissions and 68% of all GHG emissions. Emissions trading works by setting a quantitative total limit on the emissions produced by all participating emitters. As a result, the price automatically adjusts to this target. This is the main advantage compared to a fixed carbon tax. Under emission trading, a polluter having more emissions than their quota has to purchase the right to emit more. The entity having fewer emissions sells the right to emit carbon to other entities. As a result ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
