China plans to address much of their emissions by building a national carbon market. In this bimonthly newsletter from EDF’s China Program, we bring you first-hand news and insightful analysis into the construction of what will become the largest national carbon emissions trading system, or ETS, in the world.
Archives
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Issue 16: Two sessions held in Beijing set 2023 Goals on addressing climate change, and Allowance Allocation Plan has been determined for the national ETS second compliance period [PDF]
March 2023
The achievements of climate-related works in 2022 were summarized during Two Sessions, and the priorities to address climate change in 2023 have also been clarified. Meanwhile, the National ETS also made several major progresses, including the issuance of the allocation plan for the second compliance period, and other documents which aim to improve data quality of covered entities. Also, EDF published three research reports about the developments of China voluntary emission reduction program and climate-related information disclosures.
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Issue 15: Progress in policies promotes carbon peaking and low carbon transition [PDF]
December 2022
Recently, China has made tremendous progress in releasing regional and national policies to promote carbon peaking and low carbon transition. Meanwhile, the Ministry of Ecology and Environment published a report to introduce the national carbon market performance of the first compliance cycle, and updated guidelines for monitoring, reporting and verification of GHG emissions. Plus, EDF has supported the establishment of the official Help platform for the national ETS and further improvement of the voluntary emission reduction market’s infrastructure; we also co-host a webinar to discuss the development of climate investment and financing in China.
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Issue 14: The 20th National Congress of CPC constructed the top-level design for climate policies in China [PDF]
November 2022
On the 20th National Congress of CPC, President Xi Jinping announced measures to make future developments of China align with the Dual Carbon targets. After that, documents and working arrangements were released to promote the low carbon transition and the national ETS. During the UNFCCC COP 27, EDF supported the MEE in organizing China Pavilion to discuss the development and outlook of China carbon market.
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Issue 13: The First Anniversary of China’s National ETS [PDF]
October 2022
This July has witnessed the first anniversary of China’s national emission trading system (ETS), and the first compliance cycle ended with a 99.5% compliance rate of 2,162 power generation entities. By the end of August this year, about 195 million tonnes of China Emissions Allowances (CEA) were traded, with a total trading value of about CNY 8.5 billion.
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Issue 12: Enhance Data Quality of the National ETS [PDF]
June 2022
To enhance the data quality of the national carbon market, MEE issued the Notice on the Implementation of GHG Data Reporting in 2022. Specific data of CCER was first released in a webinar focused on high-quality voluntary carbon market organized by EDF.
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First Compliance Period of China’s National ETS Closes [PDF]
January 2022
As we entered into 2022, we saw the first compliance period close successfully with 99.5% allowance obligations fulfilled.
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Special Edition: The World’s Biggest Carbon Market Launches Online Trading! [PDF]
August 2021
China’s National ETS kicked off the first online trade on July 16th.
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Issue 10: Unintended Delay Doesn’t Encumber Building Effective ETS [PDF]
July 2021
Though experiencing an unintended delay, the overall momentum of building a more effective ETS is getting stronger and stronger.
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Issue 9: Have Your Say on China’s Interim Regulations on the Administration of Carbon Emissions Trading [PDF]
March 2021
China’s Ministry of Ecology and Environment has released a draft regulation for public consultation, which aims to regulate the national ETS at a higher level.
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Issue 8: New Carbon Trading Rules Take Effect as China Prepares for 14th Five-Year Plan [PDF]
February 2021
The interim rules for carbon emissions trading management came into effect Feb 1.
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Issue 7: China’s National ETS Open for Business [PDF]
January 2021
The China National Emissions Trading Scheme (ETS) is now open for business after the system’s core pieces have been put in place.
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Issue 6: Have Your Say on the Allowance Allocation for China’s National Emissions Trading System [PDF]
December 2020
MEE released a draft policy on the allocation of carbon emissions allowances within China’s national ETS for public consultation, including the coverage of a total of 2,267 power plants in its first phase.
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Issue 5: Have Your Say on Measures for China’s National Emissions Trading System [PDF]
November 2020
The Chinese issued two new measures (draft for comments) in November, which will be the foundation for the upcoming National Emissions Trading System.
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Issue 4: The National ETS in China’s 14th Five Year Plan and EDF’s efforts on promoting market linkage [PDF]
September 2020
As China aims for carbon neutrality by 2060, the ETS will play a pivotal role. This issue covers the latest on the market and EDF’s efforts on promoting market linkage.
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Issue 3: EDF promotes power sector’s low carbon transition [PDF]
July 2020
Efforts to promote the low carbon transition of China’s power sector in the 14th Five-Year-Plan, as well as the latest progress of the national ETS and pilots markets.
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Issue 2: Latest research findings on CCERs [PDF]
May 2020
Latest analytical report on the ETS’s supplementary mechanism, which can help achieve low-cost emission reductions, and progress on the national ETS as well as pilot markets.
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Issue 1: Big events of national ETS in 2019 [PDF]
March 2020
Highlights the Climate Change and Emissions Reduction Task Force’s role in guiding the construction of the national ETS since its formation in 2007, and more.