BEIJING (IDN | UNDP) – As China prepares to launch a nationwide carbon cap-and-trade program to try to slow climate change, experts are warning of a long list of flaws in seven pilot programs that are already operating throughout the country.
Major issues ahead of the planned 2017 launch of a national carbon trading program include a lack of openness, transparency and fairness; a flawed system of allowance allocation which does not reflect real industry conditions; and an inadequate monitoring, verification and reporting system.