SHANGHAI -- China will launch a nationwide carbon trading market in Shanghai by June, officials said, in what could be a major step forward in President Xi Jinping's ambitious goal to transform the world's biggest greenhouse gas emitter into a net-zero emissions country by 2060.
China has relied on coal-fired electricity to fuel much of its industrial boom, leading to rampant pollution. Carbon trading markets, in theory, offer a solution by forcing the biggest polluters to buy credits from others who run cleaner operations, creating an incentive to cut carbon emissions.
