China is researching the foundation of a national carbon-trading market before linking with other countries’ carbon trading schemes, said a top climate change official.
The United States, Australia, Japan and the European Union are discussing the possibility of building a sub-regional or regional carbon market with China, said Xie Zhenhua, vice-chairman of the National Development and Reform Commission.
“Our priority is getting our work done first, accumulating experience and then taking part in making the rules,” Xie said at a low-carbon forum over the weekend.
Australian Climate Change Minister Greg Combet has expressed hope of eventually linking Australia’s carbon emissions trading schemes with China’s and South Korea’s, according to Reuters. Australia and the EU agreed in late August to link their carbon trade schemes by 2018.