Pursuits
Citi Says China Going Green Will Hurt Industrial Commodities
- Expects carbon trading program by 2017 for steel, electricity
- Five-year plan due after Communist Party Plenum in October
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China’s demand for industrial commodities will probably be hurt as the biggest energy and metals user intensifies efforts to rein in pollution, according to Citigroup Inc.
The country will focus on the environment as never before in its forthcoming 13th Five-Year Plan and may start a carbon trading program next year or the year after, Citigroup said in a report on Friday. Costs for energy-intensive industries will increase, with steel and electricity likely to be the first to implement the scheme, the bank said.