The national carbon emission trading market (hereinafter referred to as the “national carbon market”), which will be officially launched at the end of June, is gradually approaching, and many parties are speeding up their preparations. The reporter learned that at present, the further construction of the national carbon market registration system and trading system is steadily advancing, and the relevant rules and regulations on registration, trading and settlement will be issued as soon as possible. It is expected that all the preparatory work will be completed by the end of May. The first batch of electric power enterprises have completed the online account opening data audit, and are now completing the data filling before the end of April, ready for the third-party verification.
As one of the core policy tools to implement “carbon peak” and “carbon neutral”, accelerating the construction of a national carbon emission trading market has been included in this year’s government work report.
According to Li Gao, director of the Department of climate change under the Ministry of ecological environment, since 2011, China has carried out carbon emission trading pilot projects in seven provinces and cities. As of March this year, China has covered more than 20 industries and nearly 3000 key emission enterprises, covering 440 million tons of carbon emissions, with a total transaction value of about 10.47 billion yuan, which is the largest carbon market in the world covering carbon dioxide emissions.
On this basis, the first performance cycle of China’s carbon market officially started on January 1 this year, involving 2225 key emission units in the power generation industry; From February 1, the measures for the administration of Carbon Emission Trading (Trial Implementation) came into effect; At present, the “Interim Regulations on the administration of Carbon Emission Trading (Revised Draft)” is also soliciting public opinions.
Li Gao disclosed that at present, the construction of the national carbon market has entered a critical stage. He will release the relevant rules for registration, trading and settlement as soon as possible, complete the further construction of the registration and trading system, organize the operation test of quota allocation, and start online trading as soon as possible.
It is understood that the national carbon emission trading system has been established in Shanghai, and the registration system is located in Wuhan, Hubei Province. The registration and trading institutions are jointly constructed by seven pilot provinces and cities as well as Fujian and Jiangsu. Recently, the national carbon emission registration system has completed the audit of the first batch of accounts opened by power enterprises. The main data center of the system has been built and put into use. It has the functions of opening accounts, issuing quotas and performing contracts, and will be officially put into operation at the end of June.
“Enterprises are busy preparing carbon emission data, and they need to complete the filling in before the deadline of April 30. It is expected that the third-party verification will come in May; At the same time, we need to be prepared for the construction of internal management and decision-making mechanism. ” A professional engaged in Carbon Asset work of a power generation enterprise in Jiangsu told the economic information daily that it is difficult for enterprises that are new to the carbon market to participate.
According to the statistics of Shengang Securities Research Report, the annual carbon emission of the power industry is about 4 billion tons, and the first batch of power enterprises included in the national carbon market accounts for more than 3 billion tons. According to the above-mentioned people from Jiangsu power generation enterprises, the first transaction of national carbon market started in June, and the first performance was completed in December. The possibility of institutions and individuals not entering in the first year is relatively high, and CCER (national certified voluntary emission reduction) may not be included. Some people in the industry predict that in 2021, the trading volume of China’s carbon trading market may reach 250 million tons, three times of the total trading volume of each pilot exchange in 2020, and the transaction amount will reach 6 billion yuan.
In an interview with reporters, sun Chuanwang, Professor of China energy economy research center of Xiamen University, suggested that in the future construction of the national carbon market, on the one hand, we should further highlight the value of carbon assets, gradually reduce the proportion of free quotas, further expand the coverage of carbon quota trading industries, and unify the management requirements of key emission enterprises in different regions; On the other hand, we should constantly improve the activity of carbon market, promote the construction of carbon financial market, and prevent excessive financialization.
Yi Gang, governor of the people’s Bank of China, said earlier that the financial management department would cooperate with relevant departments to participate in the management of the carbon market. Local planning is also accelerating. Shanghai said it would build an international carbon financial center based on the national carbon trading market. The recently released “the 14th five year plan for national economic and social development of Guangdong Province and the outline of long-term goals for 2035” proposes to deepen the pilot of carbon trading and actively promote the formation of a carbon market in Guangdong, Hong Kong and Macao. Beijing has previously proposed to improve the carbon emission trading system and build a national greenhouse gas voluntary emission reduction management and trading center.
Sun Chuanwang believes that with the increasing intensity of carbon emission reduction, enterprises should improve their carbon asset management capabilities while promoting low-carbon development.