Original title: The cumulative turnover of the national carbon market exceeded 8 billion yuan
As of February 17, the cumulative turnover of the national carbon market has exceeded 8 billion yuan. The Ministry of Ecology and Environment of China issued a notice on the 17th, requiring all localities to organize relevant work such as the completion of the quota payment of key emission units in the first compliance cycle of the national carbon market in their respective administrative regions.
The Ministry of Ecology and Environment requires all localities to complete as soon as possible the correction and treatment of key emission units that fail to pay off their quotas on time and in full in the first compliance cycle of the national carbon market in their respective administrative regions, and organize the city divided into districts where the production and business sites of key emission units are located. The competent department of ecological environment at the first level shall, before February 28, 2022, complete the order to make corrections within a time limit of the key emission units in the administrative region that fail to pay the quotas on time and in full, and file a case for punishment according to law.
On July 16, 2021, the online trading of the national carbon market was officially launched. It has included 2,162 key emission units in the power generation industry, covering regarding 4.5 billion tons of carbon dioxide emissions, making it the world’s largest carbon market.
Liu Youbin, a spokesman for the Ministry of Ecology and Environment, told reporters that as of December 31, 2021, the first compliance cycle of the national carbon market has successfully concluded, with a compliance completion rate of 99.5% (in terms of compliance volume). Overall, the basic framework of the national carbon market has been initially established, and the role of the price discovery mechanism has initially emerged.
Data shows that as of February 17, 2022, the cumulative transaction volume of carbon emission allowances in the national carbon market was 186.7 million tons, with a cumulative transaction value of 8.076 billion yuan.
“At present, the construction of the national carbon market is relatively simple, only the power industry is included, and the trading entities are only key emission units. Their trading purposes are in the same direction, their risk preferences are similar, and they have strong industry identity.” Li Gao, director of the Department of Change, said that following the stable operation of the carbon market in the power generation industry, it plans to gradually expand market trading entities and products in an orderly manner, further expand the coverage of the national carbon market industry, and include more high-emission industries. (Reporter Ruan Yulin)
