| BEIJING, July 28
BEIJING, July 28 The nearly 200 firms in
Shanghai's emissions trading scheme cut their CO2 output by 5.3
million tonnes in 2013 compared with 2011, government officials
said Monday, according to state-owned media.
The Shanghai scheme is one of seven pilot carbon markets
launched in China as the federal government prepares a national
market later in the decade to slow the rapid growth of
greenhouse gas emissions.
The 3.5 percent drop in CO2 came as a result of companies
cleaning up production processes in order to meet targets under
the scheme, local government officials told a conference in
Shanghai, according to state-owned newspaper China Securities
Journal, although the officials were not named.
The officials said the market had worked well in its first
year, with 82 companies participating, although they called for
strengthened abilities to open the market to private investors
and greater powers to punish violators.
"Shanghai could take advantage of requests to boost joint
efforts in tackling air pollution in the Yangtze River Delta, to
facilitate the building of cross-regional trading in the area,"
said officials at the conference, briefed by the paper.
Five of China's regional carbon markets have recently
completed compliance procedures for the first year of trading.
Most scheme participants have met their targets, but little
information is available on overall emission targets, meaning it
is difficult to know whether emissions have gone up or down.
(Editing by David Holmes)