SCI-TECH / ENERGY
Environment minister urges trading in national carbon market to start by the end of June
Published: Mar 02, 2021 01:57 AM
Aerial photo taken on Nov. 12, 2020 shows a heating station with clean energy at Wendeng district in Weihai, east China's Shandong Province. Shandong launched a campaign to promote a shift from coal to electricity for 358,400 households during its heating season in 2020, which will save 270,000 tonnes of standard coal and reduce emission of 680,000 tonnes of carbon dioxide in the heating season. (Xinhua/Zhu Zheng)

Aerial photo taken on November 12, 2020 shows a heating station with clean energy at Wendeng district in Weihai, East China's Shandong Province. Photo: Xinhua


The Chinese minister of Ecology and Environment has urged the trading in national carbon market to start before the end of June, while requesting to consider the implementation of carbon emissions peak and carbon neutrality as key political tasks.

"The construction of the national carbon market has reached the most critical stage. It is necessary to carry out the tests, execute the system's operation as soon as possible and ensure the launch of trading before the end of June this year," Huang Runqiu, Minister of Ecology and Environment, said during his inspection over the weekend in Central China's Hubei Province and East China's Shanghai, according to China's Ministry of Ecology and Environment (MEE).

Huang emphasized that the implementation of China's new carbon emissions peak goal and carbon neutrality vision should be treated as an important political task. "The goal and task of confronting climate change should be recognized and grasped from a strategic overall view."

According to the ministry, the national market of carbon emission is the core strategic tool to implement the carbon emissions peak goal and carbon neutrality vision.

Huang also made an emphasis on the scientific design, strict evaluation, supervision and cross-provincial communication in building the carbon market.

The MEE released in January the details of the "administrative measures for carbon emission trading," which aim to regulate the carbon trade and associated activities within China and came into effect on February 1.

The first compliance cycle of the national carbon market for the power generation industry officially started on January 1.

The bold pledge by Chinese leaders to have CO2 emissions peak before 2030 and achieve carbon neutrality by 2060 boosts efforts to cut carbon emissions, beefing up calls to go deeper into the carbon trading market.


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