China traded its first carbon dioxide permits for 22% less than today’s price in Europe as the nation inaugurated the Shenzhen Emissions Exchange as part of its plan to limit heat-trapping gases linked to climate change.
The permits were priced from 28 yuan to 30 yuan ($4.90) a metric ton, according to Chen Hai’ou, chief executive officer and president of the exchange. That’s compares with 4.71 euros a ton ($6.30) today for European Union permits on London’s ICE Futures Europe exchange, the world’s biggest carbon market by traded volume.
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Benjamin Haas and Mathew Carr, Bloomberg News via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/XJ0fWjmcMiA/
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