China will expand its carbon trading market to include steel, cement, and aluminum.

Foreks - China has announced plans to expand its carbon trading market to include the steel, cement, and aluminum smelting industries. This move will force an additional 1,500 companies to purchase credits to offset their emissions.

Ministry spokesman Pei Xiaofei stated that the expansion would increase the total volume of carbon dioxide contributing to climate warming covered by the trading plan to 8 billion tons, which accounts for more than 60% of total emissions. The plan currently encompasses approximately 5 billion tons of carbon dioxide emissions from 2,200 energy firms.