China’s ETS currently covers only the thermal power generation sector
Chinese ETS faces data issues
Data quality and integrity must improve if world’s largest emissions trading system is to be effective in helping China achieve carbon targets, speakers tell event in Shanghai
China’s emissions trading system (ETS) has a problem with data quality and integrity that must be resolved if it is to contribute meaningfully to Beijing’s ambitious climate targets, speakers told the recent China Carbon Trading and Carbon Management Summit in Shanghai. China—which accounted for one-third of global CO₂ emissions last year—launched its long-awaited ETS in July 2021 after repeated delays. Cumulative trading had reached 179mn t by the end of December, with an aggregate transaction value of RMB8.1bn ($1.27bn). The system covers only the thermal power generation sector, but as this accounts for 40pc of the country’s carbon emissions it means China’s ETS is already the biggest in
Also in this section
27 November 2024
The agreement by the parties to raise at least $300b/yr for developing countries by 2035 was derided as a betrayal by the Global South, but the UN urged pragmatism
26 November 2024
Agreements on how to operationalise both Article 6.2 and 6.4 will mean countries can start to trade emissions reductions as part of their contributions to the Paris Agreement
22 November 2024
The Energy Transition Advancement Index highlights how the Kingdom can ease its oil dependency and catch up with peers Norway and UAE
21 November 2024
E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
