China’s Carbon Tax
China leading on Emissions.
Cheng Siwei, a renowned Chinese economist, stated in his research, that pollution costs 34.5% of the Gross Domestic Product in 2005. At the ongoing World Economic Forum’s annual Summer Davos meeting, in the northern Chinese city of Tianjin, Cheng former vice chairman of the Standing Committee of China’s National People’s Congress, said that China is estimated to reduce the proportion of fossil fuel in the total energy mix from the current 91 percent to 85 percent in 2020.
Cheng also stated that China was also committed to promoting carbon trade with a focus on finding the most sustainable trading carbon market. This forward thinking economist has also proposed a carbon tax to help promote sustainable growth.
“We are suggesting imposing carbon tax on thermal power plants and using the revenue to subsidize solar and wind energy development” Cheng said.
The three day World Economic Forum’s (WEF) Asian meeting, was opened by the Chinese Premier Wen Jiabao, where over 1,000 delegates will discuss resource limits, the role of Asia’s soft power and the Korean peninsula.
The founder of the forum Kluaus Schwab, has urged China to reduce it excessive reliance on fossil fuels and to increase nuclear power. China director of the London based NGO Climate base said China should have clear legislation and a full blow carbon trading scheme.
The director of the Centre for Strategic Economic Studies at Victoria University, Peter Sheehan believes it would be premature for China to move into an international emission trading scheme. Sheehan says that the division between rich and developing countries will still be evident, but that China is making progress to cut its emissions; he also said said,
“It’s really important to remember that China is still a developing country, its GDP per capita is only about 15 per cent of the US and it doesn’t have a lot of the institutions, the data and so forth that’s required. It’s trying to get those and it’s trying to develop a lot of other policies. There are a lot more down to earth and immediately effective things it can do.”
Tianjin will be in focus again next month as it is the city where negotiators will meet in October, ahead of the December meeting in Mexico meant to finalise the global climate change talks which failed in Copenhagen last year.
The Geneva based WEF, established in 1971, is an independent international organisation committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. It is best known for its annual meeting at the Swiss winter resort of Davos, while the annual meeting of the New Champions in China is focused on newly emerging business, emissions and nations.
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