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Briefing
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- World’s Largest Carbon Market – China launched new carbon market on December 19, 2017, which will implement government cap on utility companies’ emissions and allow clean companies to sell unused carbon credits to other firms
- Utility Industry Focus – Will initially cover utility companies emitting more than 26,000 tons of carbon dioxide per year, but may expand to other energy-intensive sectors in future, such as manufacturing and industrial industries
- Based on Trial Implementations – Plan will build on carbon market experimental programs deployed in five cities and two provinces in China in 2013 and 2014 which priced "carbon permits" between $3-10 per ton of carbon dioxide, raising $680 million in total transactions
- Almost Triple Emissions Since 2000 – China’s greenhouse gas emissions from burning fossil fuels almost tripled since 2000, according to International Energy Agency data
- Existing Carbon Markets – Include Europe, which made mistake of selling too many carbon credits to companies, and California
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Accelerator
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Market Disruption
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Sector
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Energy, Government (excluding military)
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Source
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Bradsher, K. and Friedman, L., "China unveils an ambitious plan to curb climate change emissions",
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Harvey, H. and Min, H., "The China carbon market just launched, and it's the world's largest. Here's how it can succeed.",
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Chemnick, J., "China set to debut the world’s largest carbon market",
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Rathi, A. and Huang, E., "The complete guide to the world’s largest carbon market that just launched in China",
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"China sets out scaled-back vision for biggest carbon market,"
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AcceleratingBiz analysis
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Original Publication Date
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December 19, 2017
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