China Development and Reform Commission: Launching National Carbon Emissions Trading in 2017

The National Development and Reform Commission of China announced on Friday that it will launch a national carbon emission trading in 2017 and implement a carbon emission trading system.
The National Development and Reform Commission said that the first phase of the national carbon emission trading market will cover key industries such as petrochemical, chemical, building materials, steel, nonferrous metals, paper, electricity and aviation.
At present, the Chinese government is committed to adopting various measures to deal with climate change, including energy conservation, energy efficiency, environmental protection, and air pollution control.
The establishment of a carbon emission trading market aims to play a decisive role in the allocation of market mechanisms for greenhouse gas emissions, and ultimately achieve control of greenhouse gas emissions and low carbon development.
China’s Special Representative for Climate Change Xie Zhenhua said in November last year that China has launched pilot projects on carbon emissions trading in seven provinces and municipalities, and all of them have been online, and will start to launch the national carbon emission trading market in 2017.
Xie Zhenhua also said at the time that China had determined that carbon dioxide emissions peaked around 2030 and strived to reach the peak earlier. In addition, the carbon intensity will be reduced by 60-65% on the basis of 2005 in 2030, non-fossil energy will account for about 20% of primary energy, and forest reserves will increase by 4.5 billion cubic meters.

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