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Carbon Market
July 22 , 2021
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- China has officially launched its national carbon emissions trading market.
- China’s Emissions Trading Scheme (ETS) has replaced the European Union’s as the world’s largest emissions trading system.
- A carbon market is where greenhouse gas emitters can buy and sell greenhouse gas emissions permits or allowances.
- In the first phase, the system only covers the power sector.
- Seven more high energy-intensive industries, including iron and steel and construction materials, will be covered by the carbon market in the future.
- Now, for the first time, the responsibility for controlling greenhouse gas emissions at the national level is left to the enterprises.
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