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Emissions trading: Brussels and Beijing face new frictions

After almost ten years of preparation, China has launched its own emissions trading scheme. For the first time in just over three weeks, companies have been able to buy and sell CO2 allowances for almost 2,200 coal and gas-fired power plants. Measured in terms of included CO2 emissions, the Chinese ETS is the largest in the world. But experts doubt its effect on climate protection. Beijing is even facing climate levies in the future because Chinese emissions trading is not ambitious enough and does not meet the requirements of the European carbon border adjustment.

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