Reward system for car owners to cut emissions in Beijing
(MENAFN) On Friday, the 5th of June, a system to encourage city car owners to decrease their use of cars, in turn, cutting emissions, was launched by The Beijing Environmental Exchange.
To gather credits for rewards, the exchange"s phone application allows for all car owners to set up an account.
Emission allowances were previously traded and regulated by firms. This new approach allows a market based motivation to lead car owners to minimize driving frequency and permits enterprises to buy emission shares saved by the owners.
The average C02 emissions per electric vehicle are 0.83 kg, while the vehicle, that is fuel-run, with an engine capacity of 1.2 liters, releases 2.58 kg daily, as reported by the executive vice president of the exchange, Wang Huijun.
He added that, over a 3 year period, if the driver does not drive for a minimum of two-hundred days, the emissions would cut by 1 tonne.
With the aim to cut 1 million tones within a 3 year period, the authorities hope to bring 1 million vehicle owners to cooperate in the one-tonne initiative.
Of the 11 cities in China, Beijing was one of those who had reached 3 million cars on the streets by the year 2019.
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