Carbon Markets Drive China, India Climate Efforts, Center Says
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Carbon markets are a key driver for investment in the biggest emerging nations’ greenhouse-gas reducing efforts, and allowing them to collapse would be a “disaster,” according to the Center for American Progress.
The United Nations carbon market has spurred $356 billion of investment in emission cuts, encouraging climate-protection policies in at least 10 nations including China, India and Brazil, the Washington-based policy institute said in a study, citing UN data. More than 3,000 projects in China supported $202 billion in investment and seven pilot carbon markets.