The highest price reached 82.79 yuan/ton, and the price of the national carbon market hit a new high in October
As the second compliance period approaches, the national carbon market price has repeatedly reached new highs. On October 31, the national carbon market ended trading in October, with the highest price of the month reaching 82.79 yuan/ton, setting a record high in the history of the national carbon market.
According to the Sustainable Development Research Center of Fudan University, the average daily closing price of the national carbon market in October 2023 was 80.37 yuan/tonne, a sharp increase of about 10% from the previous month, and the closing price exceeded 80 yuan per tonne for the first time in the month. In terms of trading volume, the national carbon market, which is approaching the compliance date, continues to be hot, with an average daily trading volume of more than 5.5 million tons and a turnover of nearly 6 billion yuan, successfully achieving "six consecutive jumps". Two-thirds of the trading days traded more than 5 million tonnes, with a record 14.35 million tonnes on Oct. 18.
At a recent press conference held by the Ministry of Ecology and Environment, Xia Yingxian, director of the Department of Climate Change of the Ministry of Ecology and Environment, said that the fluctuation of carbon prices is mainly affected by market supply and demand, and the recent quota price has shown an overall upward trend, maintaining at about 80 yuan/ton, and the moderate increase in carbon prices reflects the market attributes of carbon prices.
"At present, the price level of carbon allowances in the country basically reflects the cost of emission reduction in China, which is in line with China's current reality." Xia Yingxian said, "In the next step, we will study the establishment of a market adjustment mechanism, and take measures such as early warning of performance risks to regulate market supply and demand, enhance market vitality, and ensure the healthy, stable and orderly operation of the market." ”
According to the November carbon price index released by the Sustainable Development Research Center of Fudan University, the buying price of national carbon emission allowances (CEA) in November 2023 is expected to be 78.09 yuan/ton, the selling price is expected to be 82.21 yuan/ton, and the median price is 80.15 yuan/ton. the buying price index was 195.22, up 9.01%; the selling price index was 185.50, up 9.54%; The median price index was 190.11, up 9.28%. In December 2023, the buying price of national carbon emission allowances (CEA) is expected to be 80.39 yuan/ton, the selling price is expected to be 84.48 yuan/ton, and the median price is 82.43 yuan/ton. The bid price index was 150.40, the ask price index was 145.01, and the median price index was 147.58.
Xia Yingxian revealed that in the second compliance cycle of the national carbon market (2021 and 2022), a total of 2,257 key emitting enterprises in the power generation industry were included, covering more than 5 billion tons of carbon dioxide emissions annually. The 2021 and 2022 quotas were issued in August this year, and the payment and compliance are currently being carried out in an orderly manner, with the completion rate of more than 60%.
It is worth mentioning that on the afternoon of October 18, the Ministry of Ecology and Environment officially issued the "Notice on Doing a Good Job in the Reporting and Verification of Greenhouse Gas Emissions of Enterprises in Some Key Industries from 2023 to 2025", requiring some enterprises in the seven key industries of petrochemical, chemical, building materials, iron and steel, nonferrous metals, papermaking, and civil aviation to start reporting and verification of greenhouse gas emissions, which means that the Ministry of Ecology and Environment has begun to start the basic work of expanding the national carbon market.
Xia Yingxian said that to achieve the goal of carbon peak and carbon neutrality, it is urgent to include more eligible industries in the national carbon emission trading market and reduce the cost of emission reduction for the whole society. In order to speed up the expansion, the Ministry of Ecology and Environment has mainly made the following two preparations: on the one hand, it has consolidated the data foundation, and carried out annual carbon emission accounting report verification work on petrochemical, chemical, building materials, steel, nonferrous metals, papermaking, civil aviation and other industries nationwide every year, and collected data from more than 6,000 enterprises, and the total direct emissions of the above seven industries and the power generation industry combined, accounting for more than 70% of the country. On the other hand, special research will be carried out to organize special research on the quota allocation methods, accounting and reporting methods, verification points, and implementation paths of the expansion of the above seven industries.
"In the next step, we will adhere to the principle of seeking progress while maintaining stability, and give priority to industries that have made great contributions to the realization of the goal of carbon peak and carbon neutrality, have serious overcapacity, have great synergistic potential for pollution reduction and carbon reduction, and have a good data quality foundation. Xia Yingxian said.
