Futures not in store for carbon plan

International trades also barred as policy finalized, UN panel told

China has ruled out the possibility of introducing carbon futures and of opening the market to foreign participants in the early stage of the carbon trade policy, China's top climate envoy said.

At a panel discussion during the United Nations Climate Conference in Bonn, Germany, China's special representative on climate change Xie Zhenhua said he is confident that the nationwide carbon trade market, awaiting final approval from the State Council, will open this year as scheduled, but he remained cautious in describing some policy designs in their early stages.