Explainer: China’s carbon market to cover steel, aluminium and cement in 2024

Quick Summary:

China’s national emissions trading scheme (ETS) is already the world’s biggest carbon market.

Myllyvirta thinks that the addition of steel to the market could create an opportunity to improve the benchmarking system, due to the growing adoption of electric arc furnaces (EAFs) – a method of steelmaking that significantly reduces carbon emissions.

Between 2024 and 2026, companies from the three new sectors will receive free allowances for their CO2 emissions, with no cap on total allowances, which represent emissions that the government authorises companies to emit.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Anika Patel

Category: EconomyBusiness

Markets: SingaporeChina

Topics: Emissions Subsidies Reporting Electrification Energy transition Carbon trading Carbon accounting Steel Concrete IEA Carbon footprint Factories Energy International cooperation Decarbonisation Power plants Governance Paris Agreement Carbon credits Regulation Cement Industrial parks Energy intensity

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-30 @ 06:00:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: eco-business.com

Language: English

Article Length: 1417 words

Reading Time: 8 minutes read

Sentences: 51 lines

Sentence Length: 28 words per sentence (average)

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

Copyright Owner: © Eco-Business

News ID: 22833316

View Article Analysis

About Eco-Business

Main Topics: EconomyBusiness

Official Website: eco-business.com

Update Frequency: 1 posts per day

Year Established: 2009

Headquarters: Singapore

News Last Updated: 15 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #100

Publisher Details

Frequently Asked Questions