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illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below:
🗞️ Driving the news: In Shenzhen, China, a new initiative called "Carbon Road for Everyone" rewards citizens with "carbon coins" for using public transport
• These coins can be traded for shopping vouchers and travel cards, encouraging more sustainable lifestyle choices as part of China's broader effort to combat climate change
🔭 The context: This scheme is among many in China aiming to engage citizens in reducing emissions and it aligns with the Communist Party's goal to make China a carbon-neutral country by 2060
• Such domestic efforts are particularly relevant as China, the world's largest greenhouse gas emitter, participates in international climate discussions like the upcoming COP28 summit
🌍 Why it matters for the planet: With households contributing over half of China's emissions, engaging the public in emission reduction is vital to transform daily habits towards more sustainable practices
• However, the challenge remains in quantifying and verifying the impact of diverse individual behaviors on emission reductions.
⏭️ What's next: China plans to integrate these personal carbon reduction efforts into its national emissions trading system
• This could allow industrial polluters to offset their emissions with credits generated by household carbon savings
• The success of this integration will be crucial in determining the effectiveness of China's overall climate strategy
💬 One quote: "Carbon inclusion is a huge platform and an effective way to mobilise the public to practice low-carbon, zero-carbon and negative-carbon activities" (Xie Zhenhua, China's top climate envoy)
📈 One stat: Since its launch in August 2022, Shenzhen's carbon coin scheme has registered 14.6 million users and contributed to a reduction of 720,000 metric tons of emissions
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