China aims to make first trade in nation’s emissions scheme in 2020
- Senior climate official says it will be among coal-fired power utilities, as part of Beijing’s efforts to reduce greenhouse gas emissions
China expects to make the first trade on the long-awaited national emission trading scheme in 2020, a senior climate official said on Saturday, as part of Beijing’s efforts to fulfil its commitment to reducing greenhouse gas emissions.
China has spent two years on legal and technical infrastructure construction after it announced its plans to launch the nationwide emission trading scheme (ETS) in 2017.
It began setting up pilot trading platforms in 2013 in seven regions across the country but they have not been brought under a unified scheme yet.
“China will speed up construction of the national carbon trading scheme this year and aims to carry out the first trade among coal-fired power utilities in 2020,” Jiang Zhaoli, deputy director of the climate change department at the Ministry of Ecology and Environment, said at an industrial conference.
Coal-fired power is the first industry included in the national ETS, covering around 3 billion tonnes of greenhouse gas emitted in China every year.
China will promote carbon trade in power sectors, Jiang said, adding that the government would also include more high-energy consuming industries such as steel, non-ferrous and construction materials in the scheme.