BP hires new head of China carbon trading desk
Oil major BP has hired a veteran project originator and carbon trader to lead its carbon trading operations in China after losing most of its regional team to Glencore earlier this year.
Read MoreGovernment offset announcement stuns China’s carbon market
China’s carbon market was paralysed on Wednesday as traders stepped back to digest news that the government will allow all CCER types to be used for compliance in the national emissions trading scheme.
Read MoreChinese banks tie interest rate to carbon emissions performances
Some Chinese lenders have begun offering interest rates linked to emission levels, as the nation’s financial sector strive to develop new climate-related products.
Read MoreChina drops 2030 climate action plan but adds few new details
China’s State Council on Tuesday released an action plan to show how it intends to meet the goal of peaking emissions by 2030, but most of the content was plans already revealed.
Read MoreNo changes as China releases climate plan, but details to be hammered out
China on Sunday published its long-awaited “1+N” climate policy blueprint without offering any changes from previous documents, though analysts expect more detailed action plans to emerge ahead of COP26.
Read MoreCN Markets: Trading volumes tick up but market remains in limbo amid lack of policy progress
Liquidity continued to improve slightly in China’s emissions market over the past week, but allowance and offset prices both lack direction amid a lack of progress on policy and operational issues.
Read MoreChinese provinces embrace reforms to give more leeway in power pricing
Several Chinese provinces on Thursday moved to cancel fixed power prices for business and industrial customers in response to last week’s power market reforms aimed at easing ongoing electricity shortages, a move experts say is crucial for the market’s ability to accommodate a carbon price.
Read MoreChina releases carbon neutrality framework, eyes 80% non-fossil in energy mix by 2060
China has released a policy framework document laying out an overall pathway to becoming carbon neutral by 2060, including a target to get 80% of its energy from non-fossil sources by that year, with a set of more detailed action plans expected to be released in coming weeks.
Read MoreChinese thermal power growth rebounds, but still haunted by coal shortages
China’s thermal power growth picked up in September from the 10-month low recorded the previous month, official data showed Monday, but the numbers were still moderate as coal shortages and curbs on energy-intensive industries continued to weigh on the market.
Read MoreCN Markets: Liquidity improves as compliance nears, CCERs at standstill
The Chinese Carbon Emissions Allowance (CEA) price rebounded this week and trading volumes again beat the lows from mid-September, while domestic offset prices remain rangebound.
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