Inside China’s Emissions Trading System

China is the largest greenhouse gas emitter in the world, making its carbon abatement plans crucial to the future of global climate change mitigation. The country’s flagship climate goals aim to peak carbon levels by 2030 and achieve net-zero emissions by 2060 (“30-60 goals”). China has moved more slowly in developing its emissions trading system (ETS) than in other carbon abatement areas. 2021 marked the inception of China’s ETS, the largest carbon emissions market in the world. At the onset, the ETS showed promising returns, with close to $200 million tons of trading in the first transaction period (July-December 2021). However, over the past few years, China has moved slowly to expand the ETS to include more industries. Most recently, the government passed a new series of regulations that will strengthen the legitimacy of the market and authorize more penalties for companies that fabricate or fail to report their emissions.
On April 4, 2024, Michael Davidson joins Max Song and Xiaolu Zhao to discuss China’s emissions trading system and its implications for domestic and international climate goals.
0:00-6:29 What is carbon trading?
6:29-12:50 What are the impacts and challenges of carbon trading?
12:50-23:36 China’s carbon emission goals, the carbon trading market
23:36-27:50 Market prices of carbon emissions
27:50- The future of China’s future climate goals
About the speakers: www.ncuscr.org/event/chinas-e...
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[@robertwatkinsjr7670]

Would it be feasible to consider further distributed systems to reduce output overloads on emission scrubbing systems, or ramping up the development of advanced carbon capture systems that would be mandatory participation for these industries? I feel like the budgeting system overlooks the critical role of technological innovation and design missing in this category. It makes sense to see these systems codevelop as well as creating distributed systems to prevent localized loading issues with core saturated production sites.