Microsoft among Firms Fined for Excessive Carbon Emission

The energy conservation authority in Beijing is going to punish Parkson, Microsoft and other three companies as they failed to finish the carbon emission allowance in 2013, the Beijing Times reported Thursday.

The authority inspected the above mentioned companies on Wednesday, saying the exceeding parts must be paid at three to five times of the market trading price.

The offending companies will receive fine notices in two weeks.

The authority said emission performance supervision will continue.

According to the local rule, if a company over-emits carbon, they should pay for the part through emission trading. Till Tuesday, the city has signed 472 trading deals for 1,651 thousand tonnes of carbon emission, which is worth 74.47 million yuan. The average emission trading price is 55.32 yuan per ton.