icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

Chinese emissions to turn Beijing into leader of climate business boom as carbon may shapeshift into new currency

Chinese emissions to turn Beijing into leader of climate business boom as carbon may shapeshift into new currency
China may soon find itself at the heart of the climate business boom, according to vice chairman and executive director of the Paulson Institute, Deborah Lehr.

The expert noted that the country is turning into a leader in innovative green finance as the scale of China’s emissions creates opportunities.

“Carbon could become a new currency, with China creating the terms, the standards and the pricing,” she said speaking via video at the International Finance Forum 2021 Spring Meetings held in Beijing on Sunday.

China’s national-level carbon trading program which is set to start by the end of June is expected to guarantee the nation the leading role in achieving carbon neutrality across the globe.

Also on rt.com China has just launched world's largest carbon market

Under the program, the country is going to start online transactions in the national carbon market. Lehr noted that once the other polluting sectors are added to the exchange, it would potentially cover up to 30% of global emissions.

Moreover, China is reportedly becoming one of the major players in innovative green finance as well as in green technology.

According to Goldman Sachs, there is a $16 trillion opportunity for clean technology infrastructure investments in China’s potential path to net zero by 2060. That may create up to 40 million jobs and drive economic growth.

For more stories on economy & finance visit RT's business section

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.