Debt may be sold to fight cli­mate change

China Daily (Canada) - - NEWSCAPSULE -

Sell­ing debt and other “in­no­va­tive’’ ways to raise funds to com­bat cli­mate change are be­ing ex­plored, ac­cord­ing to an of­fi­cial at China’s top eco­nomic plan­ner.

The aim is to se­cure in­come for a spe­cial fund, said the of­fi­cial from the Na­tional De­vel­op­ment and Re­form Com­mis­sion, who de­clined to be named.

China is the world’s big­gest emit­ter of the green­house gasses blamed by some sci­en­tists for cli­mate change.

China launched its car­bon­trad­ing mar­ket in the cen­tral Hubei prov­ince on Tues­day. The aim is to cap car­bon diox­ide emis­sions from nearly 140 of the big­gest com­pa­nies; each of which will be given a set amount of pol­lu­tion per­mits. Un­used al­lowances may be sold while com­pa­nies ex­ceed­ing pol­lu­tion lim­its must pur­chase ex­tra per­mits.

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