China to Expand Carbon Market to Major Industries

China will accelerate the expansion of its carbon market to incorporate major industries by 2027, according to guidelines issued by top policymakers.

By 2030, China hopes to have in place “a transparent, standardized, and internationally aligned voluntary reduction market,” according to a document on Monday from the Communist Party Central Committee and the State Council. The measures will help deliver President Xi Jinping’s pledge to peak China’s emissions by the end of the decade.