China's Ministry of Finance and the Ministry of Environmental Protection have requested a study on a carbon tax that may become a method for the nation to slash greenhouse gas emissions into the atmosphere.

The proposal will be released within a month, according to Su Ming, director of an institute under the nation's Ministry of Finance, the National Business Daily reported on Thursday, according to Reuters.

The study will also propose taxes on sulphur dioxide, ammonia pollutants and waste water, according to the report.

China's fast economic growth has made it the world's largest source of greenhouse gas emissions, which are blamed for climate change. China has no limits on carbon emissions and has been urged by developed countries to mitigate the environmental effects of its energy activities.