Carbon trade system opens to utilities

Largest market will be accessible to 1,700 companies, 3.3b metric tons

China started the world's largest carbon trading system on Tuesday, sending strong signals that it plans to use the market as a key policy tool to curb emissions and also is keeping its Paris Agreement commitments.

The nationwide carbon market, which is built upon seven pilot programs implemented since 2013, will be open only to the power generation sector during its early phase, according to the National Development and Reform Commission.