Carbon trade in Beijing tops 100 million yuan

Carbon trade volume in Beijing has reached 105 million yuan ($17million) since a carbon emissions trading scheme was launched in the city a year ago, the Beijing Environment Exchange announced.

According to Wang Yang, head of the exchange's carbon trade center, a total of 719 deals worth 2.1 million tonnes in carbon quotas had been traded as of Friday.

Beijing, home to one of seven pilot carbon emissions trading schemes, started carbon trading on Nov. 28, 2013.

More than 14 million tonnes of carbon dioxide had been traded across the country as of early December, with a trade volume of more than 500 million yuan ($80.8 million).

The country has pledged to reduce carbon dioxide emissions 40 to 45 percent per unit of GDP by 2020 compared with 2005 levels.