Preparations are in place for the launch of the National Greenhouse Gas Voluntary Emission Reduction Trading Market

The reporter learned at the "China Carbon Market Conference 2023 Shanghai" held on the 8th that at present, the preparations for the launch of the national greenhouse gas voluntary emission reduction trading market are basically ready.

Zhao Yingmin, Vice Minister of the Ministry of Ecology and Environment, said in his speech at the conference that China's national carbon market is composed of the national carbon emission trading market and the national greenhouse gas voluntary emission reduction trading market, which is a unified national carbon market system that is in line with China's reality, has Chinese characteristics and is in line with international standards. Among them, the national carbon emission trading market has been launched in 2021, and the preparations for the launch of the national greenhouse gas voluntary emission reduction trading market are basically ready.

According to the information released by the national carbon emission trading market, the carbon price has basically remained at 50 yuan to 80 yuan per ton since the launch of the trading two years ago, and the market operation has been generally stable and orderly, the trading price has risen steadily, and the market activity has increased steadily. As of the end of October 2023, the cumulative trading volume of quotas exceeded 380 million tons, with a cumulative turnover of RMB 20.66 billion.

"On the whole, the current market carbon price and transaction situation are in line with the positioning and expectation of the carbon market as a policy tool to control greenhouse gas emissions in the early stage of construction, and a carbon price that is in line with the status quo and reflects the cost of emission reduction in the industry has been formed, and the price discovery role of the carbon market has initially appeared. Zhang Xiliang, chairman of the Carbon Emission Trading Committee of the Chinese Society of Environmental Sciences, said that in the future, with the launch of the national voluntary greenhouse gas emission reduction trading market, it will be able to encourage a wider range of industries, enterprises and even more members of the public to participate in greenhouse gas emission reduction actions.

It is reported that the conference was jointly organized by the Shanghai Municipal People's Government, the Hubei Provincial People's Government and the Ministry of Ecology and Environment.