ANALYSIS: Xi’s climate plan could transform China’s carbon market, but only much later
President Xi Jinping’s 2060 carbon neutral target will likely bring about massive offset demand in China in the long run, but market participants and observers expect the nation’s fledgling emissions trading system to remain unaffected initially.
The first version of this story said Refinitiv expects China to need some 300 million offsets per year by 2060. The company has since corrected the estimate to 3 billion.
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