China Carbon Market Set For Explosive Growth

China’s carbon emissions market is set to expand 30 times over the next ten years, reaching $25 billion by 2030, Bloomberg reports, citing an analysis by Citi. “The Chinese national ETS [emissions trading system] as currently rolled out should play a limited role in reducing emissions at first,” Citi analyst Tracy Liao said, as quoted by Bloomberg. “We expect a series of developments to transform China’s ETS into the world’s largest effective carbon trading scheme and a key building block of the country’s…