China’s carbon market to expand, adding steel, cement and aluminium by year’s end

Quick Summary:

By adding the three emissions-heavy industries, the trading scheme is expected to cover about 60 per cent of China’s carbon emissions.

According to the MEE, the three sectors will add about 1,500 companies – each with annual direct emissions equivalent to more than 26,000 tonnes of carbon dioxide – to the ETS, increasing its coverage by about 3 billion tonnes of emissions.“After further consolidation of the data, hardware and policy foundations of the cement, steel and aluminium industries, all preparation work for the market coverage expansion is ready,” MEE said in the draft plan.

The ETS is already the world’s largest carbon-trading market even though it currently only covers the country’s power sector.

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Article Details

Author / Journalist: Yujie Xue

Category: Business

Markets: Hong KongChina

Topics: Market Aluminium Cover Emissions Sectors Steel Trading Three Carbon National Cement

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-10 @ 17:00:16 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 216 words

Reading Time: 2 minutes read

Sentences: 6 lines

Sentence Length: 36 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22445891

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