Carbon Emissions

Shenzhen, the Chinese Special Economic Zone and across the border from Hong Kong, will open carbon emissions trading market on Monday 17 June, according to city’s mayor.

South Korea’s Ministry of Environment has outlined its plan for the control of Green House Gas (GHG) emissions from its major industries and may link an energy taxation system to emissions as part of efforts to reduce emissions. As announced Monday, estimated emissions from 480 companies that are being reined in during 2013 are 590 million tonnes of CO2 and the target is to cut that back to 572 million tonnes for a reduction of 3.02 percent.

A new report from Japan’s Environment Ministry claims the country is on target to cut greenhouse gas emissions by an estimated average of 8 percent below 1990 levels for the five years ending in March, meaning it will meet its commitments under the Kyoto Protocol.

About 800 companies in China’s booming southern city of Shenzhen will be issued carbon quotas and face penalties for exceeding emissions targets from next year. The city, which borders Hong Kong in the Guangdong province and was once home to the majority of the Pearl River Delta’s manufacturing operations, is one of seven carbon trading test zones appointed by the central government in October.

India’s Ministry of Environment & Forests and the Ministry of Urban Development have launched a project called “Promoting Low Carbon Transport in India” as the first-ever transportation project to be financed by the United Nations Environment Programme (UNEP).