China’s Guangdong Province Thursday commenced carbon emissions trading, a landmark pilot project in Beijing’s drive to reduce carbon dioxide emissions by 40-45 percent by 2020 over 2005 per unit of gross domestic product. The pilot schemes are a milestone for a China intent on building a nationwide carbon trading market and vaulting the country onto the forefront of nations seeking to cut carbon emissions. Beijing is determined to do something about its unenviable position at the top of the world ranking over carbon emissions. It surpassed the United States in 2007 as the biggest emitter of greenhouse gases from the burning of fossil fuels.

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