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China launches world’s largest carbon market: What is it and how does it work?

Carbon Trading works on the cap-and-trade model where the coal-and-gas-fired energy plants are allocated a specific number of emissions allowances. If they exceed this limit, the energy plants are permitted to buy allowances from the open market.



source https://www.jagranjosh.com/current-affairs/china-launches-worlds-largest-carbon-market-what-is-it-and-how-does-it-work-what-is-carbon-market-emissions-trading-scheme-1627027465-1

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