China launches its pollution rights trading system, much anticipated by climate protectors. Initially, only around 2,200 companies from the energy sector will be obliged to trade in emissions, each of which emits more than 26,000 tons of greenhouse gases per year. The People's Republic is the world's largest emitter of greenhouse gases, but aims to achieve CO2 neutrality by 2060. The German climate economist Ottmar Edenhofer recently said in a “press talk it was crucial to get China on board for climate protection.
Emissions trading systems are based on the fact that the emission of greenhouse gases, which drive global warming, is given a price tag. Companies have to secure certificates that allow a certain emission – or they can also sell the certificates if they emit fewer CO2 equivalents. Such a system has existed in the EU since 2005; in Germany it was last extended to the areas of transport and heating at the turn of the year.
