STOCK MARKET WATCH -- Wednesday, 4 June 2014

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19. One Day After U.S. Announces Emissions Target, China Says Carbon Cap Is On The Way

http://thinkprogress.org/climate/2014/06/03/3444105/china-carbon-cap-2/

One day after the United States proposed rules to limit the amount of carbon emitted from existing power plants, China said it will limit its total CO2 emissions for the first time, likely starting in 2016 with the announcement of their next five-year plan. China, the world’s biggest greenhouse gas emitter, and the U.S., the second biggest, account for about 42 percent of global emissions. The back-to-back signalling of serious domestic efforts to reduce emissions could signal a much-needed boost of momentum at the upcoming U.N. climate talks in an effort to establish a post-Kyoto global commitment. However the statements, which come from He Jiankun, chairman of China’s Advisory Committee on Climate Change, are without specific detail or commitment and merely offer speculation on China’s approach to regulating GHGs going forward.

According to Reuters, He told a conference in Beijing on Tuesday that an absolute cap on carbon emissions will be introduced later this decade.”The government will use two ways to control CO2 emissions in the next five-year plan, by intensity and an absolute cap,” He said.