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U.S. legislation to curb climate change emissions with a cap-and-trade mechanism died in the U.S. Senate. But the market-friendly approach has found support in California, and abroad — most recently in China, the world’s largest greenhouse gas emitter, and biggest investor in clean energy.
China emits more carbon dioxide than any other nation. But the country is trying to control its CO2 by using a cap and trade scheme in parts of the country. If the experiment works, China will consider extending the program all over the country, possibly linking up with international carbon markets. Host Bruce Gellerman talks with Republican Senator Johnny Isakson of Georgia about his recent visit to China, and Harvard Environmental Economic Professor Robert Stavins about what this means for America’s efforts to reduce carbon emissions.