310 million tons of ETS pilot allowances traded in China

As of the end of May 2019, the national carbon market has accumulated a total of 310 million tons of emission trading system (ETS) pilot allowances, worth about 6.8 billion yuan.

As of the end of May 2019, the national carbon market has accumulated a total of 310 million tons of emission trading system (ETS) pilot allowances, worth about 6.8 billion yuan.

In 2011, China launched seven pilot regional carbon trading markets in Beijing, Tianjin, Shanghai, Chongqing, Hubei, Guangdong, and Shenzhen. At the end of 2017, the issuance of a national plan for carbon market construction marked the official launch of the national emission trading system.

In 2018, the national CO2 emission per unit of GDP had decreased by 45.8% compared with that of 2005, exceeding the target of 40% to 45% set for 2020. Meanwhile, 14.3% of the energy consumption in China is non-fossil, and China ’s land greening project continues to advance with a growing forest coverage and stock volume.

Source: Xinhua Finance

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/05/310-million-tons-of-ets-pilot-allowances-traded-in-china/.

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