Chinese carbon market has 'potential'

17 November 2011 - China Daily, Wei Tian

The carbon market in China has "substantial" potential, and will be decisive to the global carbon price once a national system emerges, Rachel Kyte, Vice-President of the World Bank, said on Wednesday. … Kyte called for more Chinese banks to sign up for the Equator Principles, a set of guidelines that require signatory banks to take into account environmental and social issues when financing development projects.  … "Chinese banks are increasingly global players, and it would be important to see major banks in China adopting a principle that is also globally recognized," Kyte said. Read More.