China’s measures to fix energy sector’s emissions data will improve credibility of carbon trading market, analysts say
- The guidelines provide clear and detailed verification methods and instructions for evaluating emissions, including coal consumption, carbon content and calorific values
- The measures are by far one of the most important developments in China’s emissions trading scheme policy framework, Refinitiv analyst Qin Yan says
The guidelines, which came into effect this year, provide clear and detailed verification methods and instructions on key parameters for evaluating emissions, including coal consumption volumes, carbon content and calorific values.
The recommendations are likely to improve the data quality under the ETS as inconsistencies have been found in early 80 per cent of the power companies’ reported and actual emissions, according to the ministry.
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The guidelines are by far one of the most important developments in China’s ETS policy framework, according Qin Yan, lead carbon analyst at data provider Refinitiv.
“One of the goals of the ETS is to help China build a robust emissions accountability system covering all the sectors,” she said. “Overall, China’s energy statistics system is still less developed and less comprehensive compared to Europe. This has led to some difficulties regarding emissions data collection in the ETS, compared to the European carbon market.”