China steps up climate fight with emissions trading scheme Issued on: 16/07/2021 - 06:42 China has launched its long-awaited emissions trading system, a key tool in its quest to drive down climate change-causing greenhouse gases GREG BAKER AFP/File 4 min Beijing (AFP) China launched its long-awaited emissions trading system on Friday, a key tool in its quest to drive down climate change-causing greenhouse gases and go carbon neutral by 2060. The scheme was launched with China, the world's biggest carbon emitter, seeking to take a global leadership role on the climate crisis in the lead up to a crucial UN summit in November.