China Aims For National Carbon Market By 2016

In November 2014, the United States and China issued a joint announcement recognizing that each nation had a "critical role to play" in combating global climate change—and announcing measures to be taken by each nation in that regard.

Following recommendations made in August 2014 by the Energy Research Institute (a think tank led by the National Development Resource Council ("NDRC")), China committed to "peaking" its carbon emissions by 2030 and to use its best efforts to peak before this date. China also pledged to increase the share of non-fossil fuels to 20 percent of primary energy consumption by 2030. These goals will be incorporated into China's next three "five year plans," with the current plan due to expire in 2015.