China's vital emissions trading scheme

System set to become the world's single most important climate mitigation policy

Kevin Rudd and Alistair Ritchie

March 5, 2021 05:00 JST

20210304 coal burning power station Beijing.JPG

A coal-burning power station in Beijing: the emissions trading system could help China to achieve carbon neutrality sooner than the target year of 2060. © Reuters

Kevin Rudd is president and CEO of the Asia Society and a former Prime Minister of Australia. Alistair Ritchie is director of Asia-Pacific Sustainability at the Asia Society Policy Institute.

Achieving net-zero emissions by midcentury is required to prevent dangerous global warming and meet the goals of the Paris Agreement. It is also a must-have goal of major economies if they are to avoid the environmental and economic risks of insufficient climate action.