At a luncheon this afternoon in New York, Chicago Climate Exchange founder and CEO, Richard Sandor warned attendees not to “underestimate China” when it comes to climate change initiatives.
His warning came in response to a question about China’s role in the world’s emissions. If China, India and other emerging markets continue polluting at massive clip, does a U.S. and European cap and trade system go for naught?, the questioner asked.
He said while he was in China recently to speak he found out about an emissions trading club at Peking University. He was also presented with a 200 page document on cap and trade from a group of students at another university that have been studying the emissions trading schemes for two years now. He seemed to believe that China will get on board with a trading scheme sooner than later. We think that won’t happen until the U.S. establishes its own and presses China to join.
Sandor said the “outlook for China is good” when it comes to emissions. For his sake, it better be, as his company is the founding investor in the Tianjin Climate Exchange that trades SO2, energy intensity and COD (water quality.)
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