ANALYSIS: Xi’s climate plan could transform China’s carbon market, but only much later
President Xi Jinping’s 2060 carbon neutral target will likely bring about massive offset demand in China in the long run, but market participants and observers expect the nation’s fledgling emissions trading system to remain unaffected initially.
Read MoreChina commits to peaking GHG emissions before 2030, carbon neutrality before 2060
China will strengthen its climate policies, strive to peak its emissions before 2030, and become carbon neutral before 2060, President Xi Jinping told the UN General Assembly Tuesday in a surprise move that signals a significant step-up in climate ambition for the world’s biggest emitter.
Read MoreSouth Korean firm strikes rare China CDM deal
A South Korean firm has struck a rare deal with a Chinese petrochemical group that will see the two launch a Clean Development Mechanism (CDM) project to generate carbon credits eventually eligible for compliance use in the South Korean emissions trading scheme.
Read MoreCO2 neutrality pledges build among corporates and subnational govts, though inconsistencies remain -report
Net zero emissions pledges are ramping up but in subnational jurisdictions and among companies, but the ultimate scope of these efforts could determine their long-term effectiveness in reducing GHG, according to new analysis published Monday.
Read MoreChina’s State Council backs voluntary offset exchange
China’s State Council has backed the establishment of a separate exchange for trading voluntary carbon credits likely to be set up in the Beijing region, which some market observers expect to gradually take over handling of CCERs.
Read MoreCN Markets: Pilot market data for week ending Sep. 18, 2020
Closing prices, ranges and volumes for China’s regional pilot carbon markets this week.
Read MoreCarbon neutral LNG faces uphill battle in China, gas distributor says
The recent failure to fetch any premium at China’s first-ever carbon neutral LNG auction shows market appetite is still low, but upstream suppliers can help by improving their information disclosure, according to a report released by a state-owned gas distributor.
Read MoreChina shows openness to firmer long-term climate commitments
China is willing to contribute more on climate change and is studying carbon neutrality as part of a long-term strategy, according to a comment by a foreign ministry spokesman that was enthusiastically welcomed internationally but met with scepticism by domestic observers.
Read MoreEU and China agree to keep talking on climate ambition after leaders meet
China and the EU have agreed to establish a regular high-level dialogue to further discuss the extent to which Beijing can raise its climate ambition, EU leaders confirmed on Monday after talks with President Xi Jinping.
Read MoreChina posts first positive power consumption numbers for 2020
China’s year-to-date total power consumption at the end of August stood 0.5% above the same period in 2019, government data showed Monday, the first time this year the nation has posted positive numbers as the world’s biggest-emitting economy continues to recover from the COVID-19 pandemic.
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