“The Progress of China’s Carbon Market 2017”, which was released by Environmental Defense Fund (EDF) and the Energy Research Institute (ERI) of China’s National Development and Reform Commission, establishes a baseline for monitoring year-over-year progress on the legal, policy and accountability mechanisms of the market, which was launched in December, 2017 and will become the world’s largest emissions trading system. The report, released after the conclusion of the program’s top-level design phase, also offers recommendations for Chinese authorities to address operational, structural and regulatory issues. 

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