By introducing new rules, China intends to reduce the oversupply of carbon emissions credits in its emissions trading system (ETS). The draft rules presented on Tuesday prohibit the customary „borrowing“ of credits from the future. It also lays down stricter rules for transferring unused credits from previous years to the present, as Bloomberg reports. According to the responsible environment ministry, the new rules are intended to create a „slight shortage“ of carbon certificates on the ETS market.