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.

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