China's top climate official rules out carbon futures, tax: media

From Reuters - November 14, 2017

SHANGHAI (Reuters) - Chinas top climate official has ruled out any immediate introduction of carbon futures as well as a carbon tax to help the country finance efforts to cut climate-warming greenhouse gases, the official China News Service reported late on Tuesday.

In the initial stage we will not do carbon futures, because we are worried that suddenly entering the futures market with no experience could cause chaos in the market, said Xie Zhenhua, Chinas special representative on climate change, speaking at a briefing on the sidelines of climate talks in Bonn.

China, the worlds biggest source of CO2, has vowed to use market mechanisms to help reduce emissions.


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