The country's main environmental apparatus has published three key documents needed for the national carbon trading market that has promoted, which means that the market has worked.
The Ministry of Ecology and Environment on Tuesday published by a provisional regulation on carbon trade management. Prior to this, he published an Action Plan in the 2019-2020 Assignment of Carbon Emissions Assignments for the Energy Generation sector and a list of 2,225 companies that would be given emission benefits on December 30.
These documents marked by the fact that China's national carbon market has opened for business, according to China's program of the Environmental Defense Fund.
"The official operation of the China's national carbon trade market, the largest in the world, is one of the most exciting news During the past year, said Zhang Jianyu, founder and head representative of the program, He said.
Carbon trade is the process of buying and selling permits to emit carbon dioxide or other greenhouse gases. If a company significantly reduces its own greenhouse gas emissions, you can sell surplus permits in the carbon market. If you can not limit your emissions, you have to buy unused permissions from other companies.
The two documents published at the end of last year mean as of the 2,225 generation companies of Energy that saw their carbon emissions from January 1, 2019 until the end of 2020 going beyond their free total allocation may have to buy permissions in the market, he said.
The Regulation presented the rules of the Tuesday that E Companies could use emissions reductions certified by China, which are generated within the Voluntary Greenhouse Gas Emissions Program of China, as offset credits. But the companies are only allowed to use the reductions of certified emissions to compensate for 5 percent of the permissions it should be purchased.
Based on the market, the method of carbon trading values, the cost of efficiency and depends on the cutting emission when the cost is more friendly.
further reduce carbon reduction costs.
Li Gao, head of the Department of Climate Change of the Ministry, said at a press conference on Tuesday that despite the national market, currently includes the energy generation sector, preparations have been in process To extend it to other sectors that are the main issuers.
The Ministry had collected and worked on the carbon dioxide emission data verification of 7,000 companies in several sectors from 2013 to 2019.
"The work has established a very Solid to expand the national market of the energy generation sector to other sectors in the next step, "said Li.
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