Five-year plan sets China on path to further emissions growth
China announced key economic targets for the next five years on Friday, avoiding an absolute cap on greenhouse gas output and instead setting intensity goals that if met would see annual emissions continue to rise.
Read MoreChina central bank official proposes carbon market overhaul
China should set an absolute cap on CO2 emissions in its national ETS, expand beyond spot trade, and phase out the pilot trading schemes to improve the effectiveness of its carbon market, the Shanghai director of the People’s Bank of China (PBOC) has said.
Read MoreGuangdong keeps lid on offset use, gets timetable back on track
China’s biggest pilot emissions trading scheme will keep offset limits for compliance purposes well below 0.5% of emissions for 2020, and also get the compliance cycle back on track after COVID-driven interruptions sparked major delays for all of the nation’s pilot markets last year.
Read MoreCN Markets: Pilot activity quietens as focus turns to national ETS, CCERs
Interrupted by week-long Lunar New Year celebrations, China’s pilot carbon markets saw a drop in activity in February as traders got busy tracking down potential sources of offset supply for use in the national emissions trading scheme.
Read MoreHKEX takes stake in Chinese futures exchange
Hong Kong Exchanges and Clearing (HKEX) is taking a minority stake in the Guangzhou Futures Exchange, aiming to extend its engagement in low-carbon markets.
Read MoreShanghai ETS shrinks by a third as coal plants exit for national market
Shanghai on Thursday released the 2020 allocation plan for its municipal emissions trading scheme, with the overall CO2 cap shrinking by a third as more than 20 coal-fired power plants are exiting to join the national market.
Read MoreCN Markets: National carbon market launch divides China’s ETS pilots
China’s national emissions trading scheme formally entered into force on Monday, creating a sharp divide in outlook between those pilot carbon markets where power plants transition to the federal scheme immediately and those that will keep coal units in the local programmes for another year.
Read MoreChina’s Shenyang to kick off emissions trading market in July
China’s northern city of Shenyang is expected to launch trading in its municipal carbon market this July, with the programme spanning around 500 companies initially, local media reported Friday.
Read MoreWorld’s compliance carbon markets increased 19% in value to $279 bln in 2020 -report
Global compliance-based carbon markets increased in value by nearly a fifth in 2020 to €229 billion ($279 bln), according to analysts at Refinitiv, flagging a fourth consecutive annual rise and a fivefold jump within three years as the programmes shrugged off the effects of the COVID-19 pandemic.
Read MoreChina takes step towards carbon futures exchange
China has approved the setting up of a futures exchange in Guangzhou, moving closer to a carbon futures market as provincial officials in Guangdong are keen for the bourse to establish itself as an emissions trading hub spanning Hong Kong and Macao.
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