The Climate group of China, has released a story from BEIJING: The Chinese Government has released a regulation on domestic voluntary carbon trading and market development, which puts the nation on track towards achieving a compulsory carbon market.
In a quote directly from Changhua Wu, Greater China Director, The Climate Group, dated 9 July 2012, is: “This regulation marks a significant step forward in China in developing the domestic carbon market” . She added: “It sets clear guidelines and requirements of the technical and institutional elements when domestic voluntary carbon market is concerned. While still at a very early stage, today China is on the right track towards a nation-wide compulsory carbon market by establishing the infrastructure, technical guideline, as well as institutional structure needed to accelerate progress….This effort builds upon the practice and experience of China’s active participation in the Clean Development Mechanism at the global level.”
CO2Land org thinks we should have a long look at the significance of this development, we are not alone!