As Pollution Worries Grow, China Experiments with Carbon Trading

As China scrambles to respond to the choking smog that has blanketed Beijing in recent weeks, authorities in several major cities are experimenting with so-called carbon-trading markets. The schemes allow air polluters to buy and sell official permits for their harmful carbon emissions, and create strong incentives to cut these climate-changing pollutants. Carbon trading is the latest effort to get control over run-away greenhouse gases in an economy still hungry for cheap energy.