China's Carbon Market Shows How U.S. Is Falling Behind: Q&A
- CDP’s DiPerna says China trained generation of carbon traders
- Sees demand for global carbon markets to link up increasing
China’s plan to trade carbon shows how far the U.S. has fallen behind other countries in managing emissions through financial systems, according to Paula DiPerna, special adviser with CDP North America (formerly the Carbon Disclosure Project).
On Dec. 19, China announced a cap-and-trade program aimed at reducing coal use in power plants, a move poised to create the world’s largest carbon market, even though it’s not as big as the country initially outlined. DiPerna, who helped set up the first of China’s regional carbon-trading pilots, said the plan could spur a push for carbon markets to link up globally to compete. About 40 countries or jurisdictions have developed emissions markets or plan to start them, currently led by the European Union.