France buys CO2 credits from China

By Yan Yan in Beijing

Carbon trading, whether you like it or not, is now happening all over the world. The Kyoto Treaty, signed by many major countries of the world in 1997, set limits on the amount of greenhouse gases countries can emit. But it also means you can buy credits back if you go over your limit.

The Yangcheng Daily in Guangdong Province reports that France is buying 3.6 million tons of carbon dioxide discharge capacity.

“Wind Power Generating Co. Ltd of Guangdong Nuclear Power Holding Co. Ltd and EDF Trading of France recently signed a Clean Development Mechanism (CDM) project purchase agreement in Beijing…

China‘s exploitable wind resources reach one billion kilowatts, ranking first in the world. The Guangdong company has so far launched three wind power projects in China, with combined installed capacity reaching 400,000 kilowatts. It is expected to reduce discharge of carbon dioxide by about 3.6 million tons by 2012…”