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China steps up climate fight with emissions trading scheme
The programme was launched just days after the European Union unveiled its detailed plan to achieve carbon neutrality by 2050.
< wipes tears > Which has been received by infestors like a bag of frosted hair
China first announced plans for a nationwide carbon market a decade ago, but progress was slowed by the influential coal-industry lobby and policies that prioritised economic growth over the environment.
The scheme will set pollution caps for big-power businesses for the first time, and allows firms to buy the right to pollute from others with a lower carbon footprint.
such asssss EU26? Califronia, USA? Or Vanuatu?
Citigroup estimates $800 million worth of credits will be bought for this year, rising to $25 billion by the end of the decade. That would make China's trading scheme about a third the size of Europe's market, currently the biggest in the world.

The scheme was originally expected to be far bigger in scope, covering seven sectors including aviation and petrochemicals.

Low ambition ...
Opening trade at the market in Shanghai started off at 52.7 yuan ($8) per ton of carbon on Friday [16 July] morning.

The average carbon price in China is only expected to hover around $4.60 this year - far below the average EU price of $49.40 per ton, Citic Securities said in a recent research note.

by Cat on Fri Jul 16th, 2021 at 02:45:10 PM EST
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By next summer, the plan's 6.3 million participants from federal civilian agencies and uniformed services will gain access to a mutual fund window in which they can designate portions of their accounts to any of more than 5,000 funds, including some that consider ESG factors, according to the Federal Retirement Thrift Investment Board [FRTIB], which administers the TSP [Thrift Savings Plan].
Levin thinks ESG could be an area for bipartisan collaboration because it comes down to "orthodox economic theory."

"If you believe in capitalism, you have to believe in markets, choice, and transparency," Levin said.

of ETF indices

Environmental, Social, and Governance (ESG) Criteria

by Cat on Fri Jul 16th, 2021 at 05:04:26 PM EST
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Emission Trading is a bunch of malarkey but I'm tired of arguing about it.  

Let the fools play their stupid games while the lung disease rates soar.


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Jul 16th, 2021 at 06:24:02 PM EST
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Democrats are eyeing a tax on imports [a/k/a tariffs] from countries that don't have strong policies aimed at combating climate change, seeking to include such a tax in a wide-ranging spending package that could pass without Republican votes.
Carbon border taxes is an idea that is increasingly getting interest from policymakers across the globe, with the European Union proposing a similar idea this week.
Democrats said that they are interested in an import tax in an effort to ensure that other countries don't undercut [BWAH!] U.S. efforts to combat climate change. ... Democrats' budget deal comes the same week that such a tax was included in a RAFT of ambitious emission reduction proposals by the European Union. The European Commission's proposed carbon border tax would apply to importation of products such as carbon-intensive cement, electricity < DESERTEC wipes tears > and steel. The proposal calls for the tax to take effect in 2026.
Democrats have not proposed a carbon-pricing system in their budget deal. The White House has declined to either endorse or rule out a carbon-pricing system. In June, Sen. Sheldon Whitehouse (D-R.I.) said there "may be a very big fight in the Senate on this issue when we get to where the Senate has a role."
"I will make sure as chairman of the Senate Finance Committee that no carbon policy hits working people and working families," [Sen. Ron Wyden] said
REDD+ is ded
by Cat on Sun Jul 18th, 2021 at 01:06:05 PM EST
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