Carbon emissions trading is now open to individuals across Beijing, according to city authorities.
Only businesses have been involved in this emissions trading scheme since it was launched in November 2013. Now, Beijing residents aged between 18 and 60 and with financial assets of more than 1 million yuan ($160,000) will be eligible to participate.
Zhou Cheng, vice president of the Beijing Environmental Exchange, said individuals can open a bank account and buy carbon dioxide emission quotas after registering online and being approved.
Guo Wei, vice president of SinoCarbon Innovation & Investment, suggested that such quotas are appropriately controlled at a relatively low price, providing a good opportunity for individuals and investors to get involved.
At the moment, prices range from 50 to 60 yuan (US$8-9) per ton, which allows for substantial appreciation before trading gets underway.
Seven regional pilot markets, including Beijing, will eventually be transferred to a national carbon emissions trade equivalent.
