State Council Approves CO2 Cap For China’s Carbon Market

13 December 2016 – China’s State Council has approved an overall cap on CO2 emissions for 7,000 companies that will be brought into its carbon trading scheme next year, said Jiang Zhaoli, vice director at the Climate Change Department at the NDRC. China’s plan is to launch the market, which will cover only CO2 and not other GHG, in the second half of next year, although it will regulate emissions starting from January 1st.