China bides its time on ETS extension
Government may not broaden scope of world’s largest cap-and-trade scheme until 2024 or later
China may not expand its cap-and-trade scheme to cover more emissions-intensive sectors beyond power generation until next year at the earliest, as carbon policymaking has been overshadowed by energy security and macroeconomic concerns, according to speakers at the Carbon Forward Asia conference in Singapore. China’s emissions trading system (ETS)—the world’s largest by emissions volume—has covered only domestic thermal power generators since it launched nearly two years ago in July 2021. So far, prices and trading activity have languished at low levels, limiting the system’s effectiveness as a tool for reining in emissions. There has been considerable speculation since the national carbon m
Also in this section
23 April 2024
Europe must unlock cross-border CO₂ trade if it wants to build a viable CCS sector for the long term
16 April 2024
US and European oil majors snap up smaller players and look to accelerate development in a region deemed to possess all the key elements for successful CCUS deployment
15 April 2024
Demand for credits seen rising 20% this year despite issues around integrity and standardisation
11 April 2024
Volatile allowance prices and small size of voluntary market undermine ability to drive investment, says Oxford Institute for Energy Studies