Some 75 of the world's biggest fossil fuel companies have vowed to meet net zero goals, but few have actually done anything, monitors say. This AFP photo shows coal power plants in Jiangsu.
China’s plan to expand its emissions trading scheme to include companies outside power generation to firms in the cement, aluminium and steel sectors will be set back until 2023 or 2024, China Dialogue reported on Friday, citing a report in Caijing financial news that said “poor quality of reported data” is holding up the move.
However, it noted that the CarbonInvestment group disputed Caijing’s claim that data quality is the main cause of the delay, arguing that challenging rule-making processes, “such as setting sectoral benchmarks and allowance allocation mechanisms” are the bigger hurdles to expansion. Either way, industry figures fear slow progress on decarbonisation could weaken the “international competitiveness” of Chinese companies, it said.
Read the full report: China Dialogue.
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