China to launch voluntary carbon emission cap

China will launch its first voluntary carbon emission reduction standard in September, said Mei Dewen, general manager of the China Beijing Environment Exchange, a comprehensive environmental equity transaction institution in the country. The world’s carbon transaction volume is predicted to hit US$150 billion by 2012, and it will surpass oil then, said an expert, adding that China is expected to represent about 30% of the global carbon market. (August 19, 2009)