In the cap-and-trade system, a government sets a limit on overall emissions, which is tightened over time.
The KraneShares Global Carbon ETF KRBN, which was up more than 100% last year, provides diversified exposure to global carbon markets through futures contacts.
The KraneShares CSI China Internet ETF KWEB was down about 50% last year due to regulatory crackdown on companies like Tencent TCEHY, Alibaba BABA and Baidu BIDU.
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