Alicia Garcia-Herrero is Asia-Pacific chief economist at Natixis and a senior research fellow at Bruegel, a Brussels-based think tank.
Expect Beijing to soon start lobbying against the proposal

China remains the world's larger greenhouse gas emitter, with 27% of total carbon emissions globally. Coal still supplies more than 70% of China's electricity needs. © Reuters
Alicia Garcia-Herrero is Asia-Pacific chief economist at Natixis and a senior research fellow at Bruegel, a Brussels-based think tank.