Debt may be sold to fight climate change
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.