National Carbon Market

By Paul Davies and R. Andrew Westgate

This document is a translation of the recently released Tentative Measures for the Administration of Trading of Carbon Emissions Rights promulgated by the National Reform and Development Commission (“NDRC”) on December 10, 2014.  As discussed in a recent article by Latham & Watkins partner Paul Davies, this development represents the first details the NDRC has provided on how the national carbon market in China, currently the world’s second largest consumer of energy, will