Hsu quoted in Scientific American on China's launch of world's biggest carbon market
As the United States reverses its climate policies, the world's top greenhouse gas emitter is in the midst of setting up a national carbon-trading system.
Chinese officials are preparing to launch an emissions market later this year that will cover roughly a quarter of the country's industrial CO2. Officials and nonprofit groups from the European Union, Australia and California have been advising the Chinese on their program design.
International scrutiny, based partly on China's size and partly on other jurisdictions' familiarity with cap and trade, will provide an incentive to get it right, another academic expert said. "The last thing they want to do is to fail," said Angel Hsu, a professor at Yale-NUS College and Yale University's School of Forestry and Environmental Studies who has been studying China for the past decade.