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China plans to draw on the experience of seven regional carbon markets as it drafts new national legislation in one or two years, according to the country’s lead climate negotiator.
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China can still fulfill its energy- conservation targets for this year, Xie Zhenhua, vice chairman of the National Development and Reform Commission, told reporters in Beijing today.
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China believes it can agree with the European Union on ways to limit airline emissions without relying on the emissions trading system, National Development and Reform Commission vice chairman Xie Zhenhua said.
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Envoys inched toward a deal at United Nations global-warming talks in Doha after working through the night to settle differences on climate aid and fossil-fuel emissions, paving the way to a new treaty by 2015.
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The following is a selection of the most important news affecting the oil market.
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Envoys from more than 190 nations worked into a third night as United Nations global-warming talks in Doha became bogged down over issues including pledges worth $100 billion.
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China’s most recent stance on bringing its emissions-reduction goals into a United Nations deal marks “business as usual” and doesn’t advance fractured climate negotiations in Mexico, U.S. envoy Todd Stern said.
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The U.S. brushed aside demands from Brazil, China and United Nations Secretary General Ban Ki-moon for richer countries to detail how they’ll deliver $100 billion in climate aid by 2020.
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UN Secretary General Ban Ki-moon joined developing nations to press for more details on how rich nations plan to reach a three-year-old pledge to provide $100 billion in annual aid by 2020 to fight global warming, weighing in on an issue that’s creating a rift at climate talks in Doha.
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China set out its conditions for adopting a binding post-2020 greenhouse-gas commitment as part of a global deal, demanding an extension of current pledges by industrialized countries under the Kyoto Protocol beyond 2012.
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