China to tie up with Chicago carbon emissions bourse: report

ENERGY TECH

by Staff Writers
Shanghai (AFP) April 25, 2008
China will join up with the US Chicago Climate Exchange to establish a carbon emission market in the city of Tianjin near Beijing, state media reported Friday.

Tianjin authorities, oil giant PetroChina and the Chicago Climate Exchange will sign an agreement for the exchange, the first in the nation, as early as this month, the 21st Century Business Herald reported, citing unnamed sources.

The exchange, part of government plan to develop the Binhai New Area in Tianjin, will trade permits for emissions of greenhouse gas like carbon dioxide and sulphur dioxide, a source told the newspaper.

Some developing nations like India and China, among the world's biggest emitters of carbon dioxide, do not have exchanges to trade carbon permits, as they are not bound to slash emissions under the UN climate change framework.

Yvo de Boer, the UN's top official on climate change said in Beijing Thursday that developed nations must put forward more equitable positions if talks for a new pact to replace the Kyoto Protocol can be finalised by next year.

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ENERGY TECH

European power plants boosting coal use

Civitavecchia, Italy (UPI) April 24, 2008
High oil and natural gas prices, coupled with increased demand, are driving Europe's return to coal-fired power plants, an industry official says.

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