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The national carbon trading market has opened.
2021-09-06
On the morning of July 16, the national carbon emissions trading scheme was officially launched at the Shanghai Environment and Energy Exchange. At 9:30 a.m., the first nationwide carbon trade was successfully matched at a price of RMB 52.78 per ton, with a total transaction volume of 160,000 tons and a value of RMB 7.9 million.
According to reports, the first batch of key emitting entities in the power generation sector participating in the national carbon emissions trading scheme exceeds 2,162 companies, with combined carbon emissions surpassing 4 billion tonnes of CO₂. This means that China’s carbon emissions trading market will become the world’s largest in terms of the total volume of greenhouse gas emissions covered. In the future, the scope of the national carbon market will be gradually expanded to eventually encompass eight sectors: power generation, petrochemicals, chemicals, building materials, steel, non‑ferrous metals, papermaking, and domestic civil aviation.
Going forward, the Ministry of Ecology and Environment will continue to revise and refine relevant policies and trading mechanisms, strengthen market oversight, steadily implement the emissions‑allowance allocation system, enhance risk management, gradually expand the range of tradable products and instruments, and boost the vitality of the carbon market, with the aim of establishing a carbon market that is effectively regulated, open and transparent, and internationally influential.
--Reprinted from “Henan Nonferrous Metals Brief, Issue 7”
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