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Report: China online carbon trading rises to 655 mln yuan

chinagate.cn by Liu Hui, February 25, 2016 Adjust font size:

 

Richard Mao (L) gives a full picture about the report as participants from UNDP, IFC, South Pole, and Carbon Star Group listen. [China Development Gateway by Liu Hui] 



A new report focusing on China carbon market has been released in Beijing, chinagate.cn reported. It is the third report of its kind published by Environomist Ltd., a professional carbon management and consulting firm based in Beijing.

Hannah Ryder, UNDP Deputy Country Director, delivered opening remarks about the report while introducing the international carbon market. According to Ms. Ryder, China has clearly embraced a bright future in global carbon market and carbon mission trading.

Richard Mao, director of Environmist who headed the report team, gave a detailed presentation. Mr. Mao recalled the efforts made by the whole team in contributing to the report to analyze a wide range of data. Later on, he introduced their general findings showing the volume and value of total online carbon trading rose to 24.9 million tons and 655 million yuan (U.S. $100) in 2015, an increase of 86.5 percent and 50.3 percent from the previous year.

In addition, the report presented a full picture of the research results into current policies and development of China Certified Emissions Reductions (CCER). China witnessed a great development on emission trading schemes (ETS) and had seven regional pilot ETS in the past year with an aim at implementing cap-and-trade scheme at a national level as required by the National Development and Reform Commission (NDRC), he said.

As far as Mao was concerned, ETS is seen as a key contribution for China to achieve its climate goals after a package of agreements reached during the Paris climate change conference late last year.

The report is also help drive global climate action, and a group of foreign experts participated in the following penal discussion.

The panelists discussed what Chinese carbon market really needed in 2016 and predicted that China might be one of largest countries in the world in terms of low-carbon development and carbon trading despite the fact that the EU ETS remains the largest carbon emission controlling policy tool in the world.

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