According to the Live Science article, "China Announced World's Largest Cap and Trade Program," by Bobby Magill, China will begin to develope a carbon trading system in order to reduce it's greenhouse gas emisions. This announcement was made jointly with the United States as both countries signed an agreement to lower global greenhouse gas emissions. These countries currently produced the most greenhouse gases. "'China will begin a market-based cap-and-trade system to limit emissions from some of its largest sectors." Cap and Trade, for those who don't know, is a regulatory system that is meant to reduce emissions and pollution to provide companies with a profit initiative to reduce air pollution faster than their competition. China plans on having 20 percent of it electricity come from renewable resources. This will lead to reducing the need of high-carbon power. China will also use 3.1 billion dollars to help developing countries fight climate change.China later pledged to the United Nations that they would try and reduce 65 percent of its emissions, whilst increasing their wind and solar power by 2020.
Link to the article: http://www.livescience.com/52306-china-announces-cap-and-trade-program.html
Link to the article: http://www.livescience.com/52306-china-announces-cap-and-trade-program.html