EnergyWatch

EU and China sign new carbon trading agreement

The two largest CO2 markets in the world will now work together to render carbons emissions more costly. CO2 prices in the EU are going up, but the consequences of Brexit remain unclear.

Photo: Ng Han Guan/RITZAU SCANPIX

The two largest carbon quota markets in China and the EU will henceforth work in closer conjunction. The two parties have just signed a new declaration in an currently ongoing summit meeting held in Beijling.

Both China and the EU have made a series of of bilateral commitments including "to further enhance and reinforce bilateral cooperation activities on emissions trading." The cooperation aims to share experience and expertise concerning carbon trading.

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