June 21, 2013
Forested mountains in Menghai County, Xishuangbanna
Earlier this week China held its first ever National Low Carbon Day (全国低碳日). Several of the mainland's megacities instituted cap and trade programs aimed at limiting pollution levels. Yunnan, although not required to participate by Beijing, launched a carbon sequestration program of its own.
In a provincial first, the Yunnan Development and Reform Commission has brokered a deal wherein Yunnan Forestry Investment Company (YFI) sold carbon credits worth 17,800 tons of carbon dioxide (CO2) to Guangdong-based Friends of Iron and Steel (FIS). In exchange for the credits, FIS has agreed to pay 1.07 million yuan (US$174,000).