China passes first-ever energy law, backs development of renewables and hydrogen
Chinese legislators have passed the country’s first energy law, giving additional legal clout to the development of renewable energy and hydrogen.
Read MoreCOP29: INTERVIEW – China has been more helpful than Europe in green cooperation, says Bahamas
The Bahamas envoy to the COP29 UN climate summit has called out Europe for seeking “business as usual” commercial relationships in bilateral green development talks, saying cooperation with China has yielded more results, particularly in areas like electric mobility.
Read MoreCN Markets: CEAs extend all-time high, weekly trading volume surges
Prices in China’s national emissions market hit a fresh all-time high again the past week while trading volume surged, buoyed by growing compliance demand, though a newly introduced carryover policy may complicate the price growth outlook.
Read MoreBRIEFING: EU’s CBAM brings uncertainty to Chinese exporters, despite planned carbon market expansion
The emergence of carbon border adjustment mechanisms (CBAM) has created a heightened sense of uncertainty among Chinese exporters, despite China’s recent policy progress in expanding its mandatory carbon market, analysts said this week.
Read MoreChina’s Hubei to promote inclusive offset programme, forest carbon sinks
China’s Hubei province has announced plans to push forward a local carbon offset programme and encourage the development of forest carbon projects within the region.
Read MoreCN Markets: CEAs break new record again, prices likely above $14 until year end
Chinese carbon prices hit record highs again over the past week as the year-end compliance deadline draws near, with analysts expecting prices to stay well above the 100 yuan ($14.04) level throughout the rest of the year.
Read MoreMacao opens international carbon exchange
Macao this week unveiled a voluntary carbon exchange backed by a leading Chinese private equity firm, which aims to help China link up with international markets.
Read MoreBeijing to auction off 1 mln carbon permits under local ETS as compliance deadline draws near
The Beijing municipal government will auction one million carbon allowances under its pilot emissions trading scheme in November, with a price floor for the sale to be set later.
Read MoreChina’s new economic stimulus policy adds uncertainty to emissions outlook
New economic stimulus measures to prop up household consumption could bring greater uncertainty to China’s emissions outlook, even though the country’s annual emissions may fall this year thanks to the massive additions of renewables, analysts said.
Read MoreWarming will worsen global economic divide by disrupting forest ecosystems, researchers warn
Rising global temperatures are likely to increase inequalities between wealthy and low-income nations by exacerbating disruptions in the carbon and nitrogen cycles of the world’s forests, placing critical ecosystem services and economic assets in jeopardy, a new study has warned.
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