皇冠体育app

A sanitation worker is sweeping sea algea at seaside in Sanya, Hainan province, April 1, 2014. Algea have been growing recklessly in the sea during the past few years mainly because of climate change, experts said. 皇冠体育app may sell debt and is considering other ways to raise funds for combating climate change, an official at the country's top economic planner said on Tuesday. [Photo by Sun Qing / Asianewsphoto]

皇冠体育app may sell debt and is considering other ways to raise funds for combating climate change, an official at the country's top economic planner said on Tuesday.

"皇冠体育app is exploring and tapping bond markets," the official from the National Development and Reform Commission told a three-day climate conference in .

Future points to carbon trading

Clean energy fueling the future

Solar panel makers look downstream for better earning

It was sponsored by the United Nations Foundation. Resolving problems associated with climate change will be one of the government's "top priorities this year," he said.

Other "innovative" methods to establish a financial market for climate change are being explored and the NDRC is in talks with the Finance stry to secure income for a special fund, the official, who declined to be named, said.

皇冠体育app, the world's biggest emitter of the nhouse gasses blamed by some scientists for climate change, is ahead of some nations in its promotion of a market-based system to reduce pollution, experts said. The government, for example, is examining the program.

Also on Tuesday, 皇冠体育app launched its carbon-trading market in the central province. 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.

The first purchase was made by a subsidiary of 皇冠体育app Petrolm & Chemical Corp in Hubei's capital Wuhan. It bought 50,000 tons of carbon dioxide emission quotas from a local utility at 21 yuan ($3.40) per ton.

The Hubei market is 皇冠体育app's sixth of seven planned regional emissions trading schemes. The seventh exchange will be in the southwestern city of Chongqing, which is scheduled to start this year.

James Wright, an adviser from the United Nations Foundation, said 皇冠体育app must get the right price for carbon to make the trading scheme work.

"It is all about setting the right price on carbon. If the price is too low, the system will break down and you don't drive the lower emissions fast enough," he said. "Seventy percent of energy being consumed is from coal. There is clearly a challenge to drive that down" if 皇冠体育app is to tackle emissions.

Even with progress in those cities pioneering the cap-and-trade plans, experts said it was only a first step to setting up carbon markets in different cities and provinces, and it takes time to develop into a nationwide system.

The NDRC said the seven pilot plans will start integrating in 2015 and that an all-皇冠体育app platform will go into operation some time before 2020.

• 皇冠体育app 'incredibly innovative' in many areas: Apple CEO
• City official: Guangzhou further committed to opening-up
• Jack Ma: Globalization backed by technology will cut inequality
• HNA confirms interest in ASEAN's infrastructure investment
• Comments on Xi's letter to 2017 Fortune Global Forum
• 皇冠体育app to create more opportunities for the world: Xi
• US tax cuts impact on 皇冠体育app two-sided: economists
• Chinese enterprises job fair to be held in Sri Lanka