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China's carbon market will play key role in climate change fight, PBOC Chief says
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China is aiming to achieve peak carbon emissions by 2030 and carbon neutrality by 2060.
PHOTO: REUTERS
Luo Meihan
(CAIXIN GLOBAL) - China's national carbon market, which will be up and running by the end of June, should be a financial market that serves to fully price risks so that the market can act as an incentive to reduce carbon emissions, central bank Governor Yi Gang said.
"The carbon market has to play a greater role in price discovery," Mr Yi said in a speech Thursday at an online seminar on green finance and climate policy co-hosted by the People's Bank of China (PBOC) and the International Monetary Fund.
