After operating a national-level carbon emissions trading platform for two months, the Chinese Communist Party (CCP) is attempting to set up an international platform, targeting foreign investors, to underpin a trillion-dollar carbon emissions permit exchange in two southern economic zones—Guangdong-Hong Kong-Macau Greater Bay Area and Hainan Free Trade Zone. However, the national platform has failed to function effectively since its launch on July 16 due to pricing issues. According to data by Shanghai environment and energy exchange on Sept. 30, the total trading volume of carbon emissions permits was 17.649 million tons in 53 trading days, with an accumulated turnover of about $124 million. Based on this data, the average price per ton of a carbon emissions permit is $7.04, which is basically at the same level as the average national cost of emissions reduction, at $7. Kate Jiang, an energy investment analyst in Hong Kong, told The Epoch Times that the data …
China to Build International Carbon Emissions Trading Platforms Under Administrative Intervention
October 7, 2021
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