China opens 'world's biggest carbon market'

With the nation having operated seven pilot programs since 2011, a national scheme started trading on Friday, although the first day's average carbon price of around €6.70 per ton of emissions was significantly below the €50/ton levels currently being seen in Europe.China launched what it has described as the world's biggest carbon market on Friday, with the national system for trading carbon emission allowances amounting to 4.1 million tons of CO2 equivalent on its first day, and with the RMB200 million (€26.1 million) worth of allowances traded setting a carbon price of RMB51.23 per ton (€6.69). ...

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