China will establish a nationwide carbon balance trading system utilizing the carbon fund and the ecological compensation fund in order to effectively solve the high carbon emission problem.
All provinces, autonomous regions and municipalities will proportionally pay or receive a corresponding carbon fund to use for ecological compensation and construction to realize ecological values.
According to Niu Wenyuan, the initiator of China's carbon balance trading framework research project and chief scientist for the Chinese Academy of Sciences (CAS), this system actually uses the space that carbon emission takes up to represent a scarce resource, and the ability of carbon sequestration as one way of earning money. This system utilizes the quantity discrepancies in carbon emission and carbon sequestration between regions and through a process of exchange, creates a reasonable price, making ecological service no longer free.
Based on the trading system designed by the project group, Yunnan, Qinghai and Tibet can receive carbon sequestration compensation; Shaanxi province is currently on the average, and other provinces, autonomous regions and municipalities should proportionally hand in their carbon funds.
By People's Daily Online
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