December 19 07:16
Share this articleOpen WeChat and scan the QR code
- China to Launch First National Carbon Market: State Media
The National Development and Reform Commission (NDRC) will hold a press conference at 4 p.m. Tuesday to announce the launch of the first national carbon trading market, according to the official China Energy News.
In this market, authorities will allot carbon emission quotas to about 1,600 coal-fired power generation companies, which produce an estimated 3.5 billion tons of carbon dioxide a year, accounting for one-third of China’s carbon emissions, said Wang Zhixuan, vice chairman of the China Electricity Council.
Power generators will be the market’s main participants, Wang said. He believes that the national carbon market will promote low-carbon development of the power industry and help the country cheaply reduce carbon emissions.