China to launch seven carbon trading schemes by 2014

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Thursday 17 January

China: China can lead in carbon trading and will have all seven regional carbon market trials up and running by the end of the year, according to an academic from the Chinese Academy of Sciences. The Guangdong system is already up and running after less than two years preparation and includes 800 big emitters. The remaining six pilot schemes will begin trading this year. (Nature)

UK: Britain’s Green Investment bank (GIB) could invest all of its £3bn endowment from the government within the next two to three years its CEO has said. Shaun Kingsbury told Bloomberg that the money will be invested in waste energy efficiency, waste treatment, and renewable energy particularly offshore wind, but said emerging technologies and troubled projects would not be appropriate. The government has been criticised for not allowing the bank to borrow. (Bloomberg)

California: The state’s carbon trading scheme is on track to incorporate a similar platform in the Canadian province of Quebec but suggestions of a link-up with the fledgling Australian market have been played down. (PointCarbon)

UK: A new poll has found that 80% of MPs don’t trust Britain’s energy companies. The UK is currently in the final stages of passing legislation to transform its energy market as it looks to invest £110bn in energy infrastructure by 2020, while also satisfying its domestic carbon budget. (The Guardian)

EU: Plans to withhold a chunk of carbon credits from the 2013-2015 phase of the EU trading scheme hinge on support from Germany, European Climate Commissioner Connie Hedegaard has said. Germany is yet to take a stance on the plan to “backload” 900 million emission allowances in an effort to stimulate the flagging market. (EurActiv)

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