China opens national ETS scheme

The China National Emissions Trading Scheme (ETS) has opened for business after the system’s core pieces have been put in place.

Zhang Jianyu (pictured), VP, Environmental Defense Fund China stated: “This is one of the most exciting developments for the world’s largest carbon market in the recent rollercoaster year. The release of the 2019-2020 ETS allocation Plan (Power Generation Industry), which includes 2,225 entities in the power generation industry, is a signal that China’s national ETS is officially opened for business. It retrospectively shows that the carbon emission of the 2,225 entities have been explicitly included in the national ETS since 1 January 2019.”

The adoption of an ETS system in China has been long expected and is seen as a vital mechanism to fight climate change and meet the climate goals set by Chinese President Xi Jinping in 2020.

    Share Story:

Recent Stories