Subscribe  Log in | Register | Advertise | Digital Issue   |   Search
  • CCUS
  • Cap & Trade Markets
  • Voluntary Markets & Offsets
  • Corporate & Finance
  • Net Zero Strategies
Search
Related Articles
BP and CNPC explore Hainan CCUS project
European oil major agrees to work with CNPC as Chinese state company seeks international partnerships to grow deployment of CCUS
EU ETS revisions close to becoming law
Final shape of the law endorsed by European Parliament with only EU Council endorsement remaining
BP softens emissions goals in push for ‘orderly’ transition
Oil and gas major revises down scope three targets as it plans slower reductions in oil and gas production to 2030
Nature-based carbon offset momentum defies critics
A recent trend towards offset crediting at a jurisdictional level is raising funds at a much larger scale than traditional project-based programmes
Offsets standards body refutes media’s Redd+ claims
Studies underpinning recent reports are flawed, according to technical review published by Verra
Deep emissions cuts drive CCUS to emerging economies – BP
India and China lead CCUS deployment under optimistic emissions reduction scenarios set out by oil major
Abu Dhabi steps on the emissions-reduction accelerator
State-owned energy companies are intensifying efforts to decarbonise the emirate’s crude oil production and carve out a leading role in the nascent global hydrogen trade
China’s emissions trading scheme lacks bite
Overly generous allowance allocations and low prices blunt impact of world’s largest cap-and-trade scheme in its first 18 months
Australia softens stance on international offsets
Government to consult on potential law change allowing big emitters to use offsets generated abroad to meet domestic limits
Outlook 2023: Unlocking a planet-positive transition for the chemicals industry
Getting to net-zero emissions will require combined efforts on both the demand and supply side
China’s ETS only covers thermal power plants
China Emissions
Shi Weijun
Shanghai
18 January 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

China’s emissions trading scheme lacks bite

Overly generous allowance allocations and low prices blunt impact of world’s largest cap-and-trade scheme in its first 18 months

China’s cap-and-trade scheme has so far struggled to make an impact on emissions from domestic thermal power generators—the only sector it covers—because of low prices and overly generous allowance allocations. China’s emissions trading system (ETS) went live in July 2021 after years of delays and six regional pilots in cities including Beijing and Shanghai. It covers 2,162 thermal power plants that each emit at least 26,000t of CO₂/yr. The scheme, overseen by the state-owned Shanghai Environmental and Energy Exchange (SEEE), covers c.4.5bn t/yr of CO₂ emissions, making it the biggest in the world by volume. But transaction value in its first year of operation reached just RMB8.5bn ($1.22bn)

Welcome to the PE Media Network

PE Media Network publishes Petroleum Economist, Hydrogen Economist and Carbon Economist to form the only genuinely comprehensive intelligence service covering the global energy industry

 

Already registered?
Click here to log in
Subscribe now
to get full access
Register now
for a free trial
Any questions?
Contact us

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Drax pauses world’s largest Beccs project
21 March 2023
Major biomass power generator says £2bn project cannot proceed without clarity on UK government support for technology
BP and CNPC explore Hainan CCUS project
21 March 2023
European oil major agrees to work with CNPC as Chinese state company seeks international partnerships to grow deployment of CCUS
Mercuria to invest $500mn in nature-based projects
20 March 2023
Commodities trader aims to generate carbon credits for use in voluntary and compliance markets via new investment vehicle
Shell rejects calls for new scope three targets
17 March 2023
Oil major pushes back on shareholder demands amid easing ESG pressures on industry

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
  • Twitter
Tweets by Carbon Economist
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search