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Shanghai Emissions Contracts to Start Trading This Month (Int'l.)
China Carbon Market,Shanghai Environment and Energy Exchange
Date: 2021-07-09
Following up on our June 30th coverage, the South China Morning Post is reporting the Shanghai Environment and Energy Exchange -- a crucial market-based mechanism to put China on track to reach carbon-neutral status by 2060 -- will begin trading of roughly 4 billion tonnes of carbon emissions contracts before the end of this month, July, 2021.

The Shanghai exchange is expected to surpass the European Union's Emissions Trading Scheme (EU ETS), currently the largest, which seeks to cap 1.61 billion tonnes of carbon emission this year. With an average traded price of $28.28 a tonne, the scheme raised $21.8 billion last year. Some $80.7 billion have been raised on the EU ETS since trading stared in 2005, according to International Carbon Action Partnership.

China's industrial sector reportedly accounted for 28.7 pct of carbon emissions in 2019, while the transport industry made up 8.6 pct and buildings contributed 7 pct, according to the Emission Database for Global Atmospheric Research. (Source: China Center for Energy Economics Research, Xiamen University, Xinhua, South China Morning Post, 8 July, 2021) Contact: China National Development and Reform Commission, www.en.ndrc.gov.cn; China Center for Energy Economics Research, Xiamen University, www.energyxmu.edu.cn

More Low-Carbon Energy News Shanghai Environment and Energy Exchange,  EU ETS,  Carbon Price,  China Carbon Market,  Carbon Trading,  Carbon Emissions,  


Delayed China Carbon Market Launch "Imminent" (Int'l. Report)
China Carbon Market
Date: 2021-06-30
According to the China Center for Energy Economics Research at Xiamen University, China's stalled national carbon market may start trading as soon as next month, but with more moderate standards than originally planned. Even so, the launch of what will be the world's largest carbon market is not expected to have an impact on the country's goal of hitting peak emissions before 2030 and achieving carbon neutrality by 2060, analysts noted.

The long-awaited national carbon market will put a price on carbon and set emission permits and quotas for energy-intensive industries, will initially cover more than 2,200 companies in China's power sector. When finally online, China's market will overtake the EU ETS to become the world's largest, covering 12 pct of global carbon dioxide emissions, according to the Shanghai Environment and Energy Exchange.

The release noted, the biggest barrier for launching a national market lies in the establishment of a multi-dimensional and flexible trading mechanism "It is very difficult to set a unified cap on carbon emissions because CO2 emissions vary in different regions, as does demand for electricity. Some provinces' energy consumption tilts to hydropower, while others rely on coal and accordingly standards for carbon emissions set at the beginning might be relatively moderate and prudent to reduce the impact on the overall economy," according to the Shanghai Environment and Energy Exchange.

Although China's total energy consumption is expected to be controlled within 6 billion tons of standard coal equivalent by 2030, government anticipates "moderate" carbon emissions growth, and the country's energy consumption from 2020 to 2030 should peak at 800 million tons of standard coal equivalent. (Source: China Center for Energy Economics Research at Xiamen University, China National Development and Reform Commission, Global Times, 28 June, 2021) Contact: China National Development and Reform Commission, www.en.ndrc.gov.cn; China Center for Energy Economics Research, Xiamen University, www.energyxmu.edu.cn

More Low-Carbon Energy News EU ETS,  China National Development and Reform Commission,  China Carbon Market,  


China Emissions Trading System Sets Interim Rules (Int'l.)
China Carbon Market
Date: 2021-02-05
In Beijing, a set of interim rules for carbon emissions trading management in China came into effect on Monday, marking a key step in the establishment of a unified national emissions trading system (ETS). A total of 2,225 power firms across the country assigned with CO2 emission caps can now trade their emission quotas via the system whereby firms that exceed their caps can purchase unused quotas from those with low emissions. A stable carbon trading among power generators will pave the way for the gradual expansion of the national ETS to include more industries, trading varieties and trading modes, thus promoting the system's healthy and sustainable development.

In an effort to build a national ETS, the country has been piloting emissions trading at the regional level since 2011, covering seven provinces and cities including Beijing, Shanghai and Guangdong. As previously reported, China aims to bring its carbon emissions to a peak before 2030 and become carbon neutral before 2060. (Source: China Ministry of Ecology and Environment, China Daily Global, Xinhua, 3 Feb., 2021) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News China Carbon Markets,  China ETS,  


Shanghai Pegged for China's National ETS Trading Platform (Int'l.)
China Carbon Market
Date: 2021-01-04
In Beijing, the Chinese Ministry of Ecology and Environment is reporting China will set up the trading platform of its long-awaited nationwide emission trade scheme (ETS) in Shanghai and the registry platform in the central city of Wuhan. Shanghai and Wuhan are among seven cities that have carried out pilot trading schemes since 2011.

The long-delayed scheme is expected to cover 2,267 power plants across China in its first phase and encourage firms to cut their greenhouse gas emissions through the purchase and sale of emission permits. Chinese President Xi Jinping has pledged to bring the country's carbon emission to a peak before 2030 and to reach carbon neutrality around 2060. Chine is presently the world's largest emitter of greenhouse gases.

As reported in Dec., the China Securities Regulatory Commission is considering emissions trading futures to boost green development and help Beijing fulfill its promise to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.(Source: China Daily, Various Others, Jan., 2020)Contact: China Securities Regulatory Commission, www.csrc.gov.cnChinese Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News China Carbon Markets,  China ETS,  


Beijing Considering Emissions Trading Futures (Int'l. Report)
Securities Regulatory Commission
Date: 2020-12-21
Yesterday, the China Securities Regulatory Commission reported it is considering emissions trading futures to boost green development and help Beijing fulfill its promise to peak carbon dioxide emissions by 2030 and achieve carbon neutrality by 2060.

As previously reported, China has piloted emissions trading in seven provinces and cities, including Beijing, Shanghai and Shenzhen, since 2011 to explore market-based mechanisms to control greenhouse gas emissions. (Source: China Securities Regulatory Commission, China.org, Xinhua, 20 Dec., 2020) Contact: China Securities Regulatory Commission, www.csrc.gov.cn

More Low-Carbon Energy News China Carbon Markets,  


Chinese Carbon Markets Trading Hits 337Mn Tonnes by June (Int'l)
China Carbon Market
Date: 2019-07-12
In Beijing, China's Ministry of Ecology and Environment reporting China's carbon emissions allowances trading reached 337 million tonnes at the country's nine carbon markets with a turnover of 7.3 billion yuan ($1.06 billion) by the end of June.

In June alone, the trading at nine carbon markets across the country were up 81.3 pct and 38.3 percent month on month, respectively, Xinhua said. (Source: China Ministry of Ecology and Environment, Xinhua, 11 July, 2019) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News China Carbon Market,  China Cap-and-Trade,  


Beijing Issues Initial Carbon Market Emissions Trading Rules (Int'l)
China's Ministry of Ecology and Environment
Date: 2019-04-05
In Beijing, China's Ministry of Ecology and Environment has issued the first set of draft rules for its long-awaited national carbon emissions trading scheme (ETS) since the platform's Dec., 2017, launch. The release of the document brings China, the world's biggest greenhouse gas emitter, closer to actual emissions trading that could help it meet commitments to tackle climate change.

According to the Ministry release, beginning next year both institutional and individual investors will be allowed to trade. Quotas for trading on the platform will be set and allocated by the State Council, the country's cabinet, based on economic growth, the country's "energy structure" and "other factors." Each unit in trading quotas will represent 1 tonne of carbon dioxide equivalent.

China plans to include all its coal-fired power plants, accounting for about 3 billion tonnes of greenhouse gas emissions, in the ETS from the first stage of trade, making it the world's biggest market for carbon emissions. (Source: China Ministry of Ecology and Environment, South China Morning Post, Reuters, 4 April, 2019) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News China Ministry of Ecology and Environment,  China Cap-and-Trade,  China Carbon Market,  Carbon Emissions ,  


China's 2018 Carbon Emissions on Dramatic Rise (Int'l Report)
China Carbon Emissions
Date: 2018-12-10
In a recap of 2018, the biggest climate change-carbon emissions story may be that China, the world's single largest emitting country, grew its output of planet-warming gases by an estimated half a billion tons.

The country's sudden increase in carbon emissions could be linked to a wider slowdown in the economy, environmental, some analysts say. According to China's top planning agency three areas -- Liaoning in the northeast Rust Belt and the big coal-producing regions of Ningxia and Xinjiang in the northwest -- failed to meet their targets to curb energy consumption growth and improve efficiency last year due to the current economic downturn but, the agency noted, these areas were not representative of the whole country.

Coal accounts for approximately 60 pct of China's total energy consumption, but the government hopes to bring it down to 10 pct by 2050 through increased investment in renewables and green energy. China's carbon intensity declined by 46 pct by 2017 from 2005 levels. the Ministry of Ecology and Environment reported earlier this week. It had expected it would take until 2020 to reach the targeted 40-45 pct reduction. (Source: Ministry of Ecology and Environment, Dec., 2018) Contact: China Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News Carbon Emissions,  Climate Change,  China Carbon Market,  


China's Carbon Market Trades Exceed $863Mn (Int'l Report)
Ministry of Ecology and Environment
Date: 2018-11-30
China's Ministry of Ecology and Environment is reporting the country's seven fledgling pilot carbon trading schemes reached $863.9 million as total of 250Mt of CO2 changed hands on the exchanges by the end of October.

China's pilot CO2 trading schemes cover the cities of Beijing, Tianjan, Shanghai, Chongqing and Shenzhen, and the provinces of Guangdong and Hebei. In 2017, the cities-regional schemes were replaced by a national scheme which has to date made limited progress, according to the Ministry of Ecology and Environment. (Source: China Ministry of Ecology and Environment, CemNet, Others, 26 Nov., 2018) Contact: China Ministry of Ecology and Environment, http://english.mee.gov.cn

More Low-Carbon Energy News China Carbon Market,  


Chinese Carbon Trading Transactions Top $860Mn (Int'l Report)
China Carbon Market,Chinese Ministry of Ecology and Environment
Date: 2018-11-28
In Beijing, the Chinese Ministry of Ecology and Environment is reporting the country's carbon trading transaction values have exceeded 6 billion yuan ($860 million) since June 2013, with traded emission quotas exceeding 270 million tonnes.

The agency noted that "China's carbon emission declined both in intensity and amount in the pilot carbon trading areas. The carbon market has fulfilled its role in controlling greenhouse gas emissions and promoting low-carbon development." The agency added that China will advance the construction of carbon trading market and gradually expand the number of industries, trading entities and categories that participate in the national carbon market which was launched in 2017.

The Chinese carbon emissions trading system includes power generation, iron and steel production and cement manufacturing sectors in seven provinces and municipalities.

Under the Paris Climate Agreement, China will cut its carbon emissions per unit of GDP by 60 to 65 pct by 2030 from the 2005 level. By the end of 2017, China had cut CO2 emissions per unit of GDP by 46 pct from 2005 levels, fulfilling its commitment to reduce CO2 emissions by 40 to 45 pct from the 2005 level by 2020. (Source: Chinese Ministry of Ecology and Environment, Xinhua, 26 Nov., 2018)Contact: China National Development and Reform Commission, en.ndrc.gov.cn; Chinese Ministry of Ecology and Environment, english.mee.gov.cn

More Low-Carbon Energy News China Carbon Market,  Cap-and-Trade,  CO2,  Carbon Emissions,  


China's Carbon Emissions Reduction Ahead of Schedule (Int'l)
Chaina Carbon Emissiosn
Date: 2018-11-21
In China, the recently released 2018 Global Ecological Environment Sensing Report from the National Remote Sensing Center under the Ministry of Science and Technology, has found that China has met its goal of reducing its carbon intensity -- emissions per unit of GDP - three years ahead of schedule as set by the State Council in 2009.

In 2017, China's carbon intensity, measured in kilograms of carbon emitted to produce $1 of gross domestic product, was 46 pct lower than in 2005, fulfilling the country's goal to cut carbon emissions by 40 to 45 pct by 2020.

The report notes that despite the gradual decrease, China's carbon intensity level is still higher than that of developed countries. The report also found China, followed by the United States, are the world's top carbon emitting countries among the world's major economies, producing around 2.77 and 1.45 billion tons in 2016.

According to the report, more than 1,700 power companies, accounting for more than 3 billion tons of carbon emissions, had entered China's pilot carbon market by the end of 2017. The market allows the trading of carbon emission units between companies, encouraging them to limit or reduce their greenhouse gas emissions. (Source: ECNS, 17 Nov., 2018)

More Low-Carbon Energy News China Carbon Market,  Carbon Emissions,  China Carbon Emissions,  

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