Just as the U.S. Senate was abandoning plans for a U.S. cap-and-trade system, this article ran in The China Daily: “BEIJING — The country is set to begin domestic carbon trading programs during its 12th Five-Year Plan period (2011-2015) to help it meet its 2020 carbon intensity target. The decision was made at a closed-door meeting chaired by Xie Zhenhua, deputy director of the National Development and Reform Commission ... Putting a price on carbon is a crucial step for the country to employ the market to reduce its carbon emissions and genuinely shift to a low-carbon economy, industry analysts said.”
For more, see We're Gonna Be Sorry by Thomas L. Friedman, July 24, 2010, at The New York Times.
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