View source for Global Climate Schemes Putting A Price On Carbon Emissions

<br>By Susanna Twidale<br> <br>LONDON, May 4 (Reuters) - Benchmark prices in Europe's carbon market hit a record 50 euros a tonne on Tuesday on expectations a tougher European climate target will lead to higher demand and scarcity of permits.<br> <br>The European Union's carbon market, its Emissions Trading System, is the bloc's flagship tool to curb greenhouse gases, covering the power, industrial and aviation sectors, representing around 40% of its emissions.<br> <br>The EU agreed last month to cut its net greenhouse gas emissions at least 55% by 2030 against 1990 levels - a new target that will require emissions to fall faster in all sectors,  [https://www.kynghidongduong.vn/blog/kham-pha-lac-son-dai-phat-tuong-thieng-cao-nhat-the-gioi.html kynghidongduong.vn] leading to discussions about expanding the ETS to sectors such as road transport and heating.<br> <br>Many countries are using a price on carbon to meet climate goals, in the form of a tax or under an emissions trading, or cap-and-trade, scheme where companies or countries face a carbon limit.<br> <br>Below are some of the major carbon emissions trading systems (ETS) around the world.<br> <br>BRITAIN<br> <br>Britain launched a domestic ETS in 2021 after exiting the EU scheme following Brexit.<br><br>It covers power plants, aviation, energy intensive industries.<br> <br>CHINA<br> <br>A national ETS covering the power sector was launched in 2021 following pilot schemes in provinces and cities including Beijing, Chongqing, Guangdong, Hubei, Shanghai, Shenzhen and Tianjin.<br> <br>EUROPEAN UNION<br> <br>The world's largest ETS, which started out 16 years ago, is mandatory for all 27 EU members, plus Iceland, Liechtenstein and Norway, covering power plants, aviation and energy intensive industries.<br> <br>KAZAKHSTAN<br> <br>Its scheme started in 2013.<br><br>It was suspended in 2016 and relaunched in 2018 after undergoing reforms. It covers the energy sector, mining and chemical industries.<br> <br>MEXICO<br> <br>A three-year pilot scheme was launched in 2020 covering the power,  [https://www.kynghidongduong.vn/blog/kham-pha-lac-son-dai-phat-tuong-thieng-cao-nhat-the-gioi.html Lạc Sơn Đại Phật] oil and gas, and industrial sectors.<br> <br>NEW ZEALAND<br> <br>Its ETS, which began in 2008, covers electricity generators, manufacturers liquid fossil fuels including petrol and diesel.<br><br>Some forest owners are given free permits, others can voluntarily join the scheme.<br> <br>QUEBEC<br> <br>Its scheme was launched in 2012 and covers electricity, energy intensive [http://www.paramuspost.com/search.php?query=industrials&type=all&mode=search&results=25 industrials].<br> <br>SOUTH KOREA<br> <br>Its ETS started in 2015. It covers around 600 of the biggest emitters, collectively responsible for almost 70% of the country's annual [http://www.techandtrends.com/?s=emissions emissions].<br> <br>UNITED STATES<br> <br>The United States does not have a national ETS, but many regions and states use carbon pricing, such as California and states covered by the Regional Greenhouse Gas Initiative (RGGI) - Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont.<br> <br>Sources: World Bank Group, International Carbon Action Partnership GRAPHIC-Global carbon pricing initiatives website Carbon pricing rises as world's weapon of choice in climate fight TIMELINE-A brief history of Europe's emissions trading system<br> <br>(Reporting by Susanna Twidale.<br><br>Editing by Mark Potter)<br>