China launches world's largest carbon emission trading program

[Beidou2020]

China launches world's largest carbon emission trading program
By Hou Liqiang | chinadaily.com.cn
Updated: July 16, 2021

Aerial photo taken on Aug 17, 2020 shows a photovoltaic power station at a green industrial development park in the Tibetan autonomous prefecture of Hainan, Northwest China's Qinghai province. [Photo/Xinhua]

China inaugurated national emissions trading of its carbon market on Friday, according to the Ministry of Ecology and Environment.

The program currently involves over 2,000 companies in the power generation sector that emit over 4 billion metric tons of carbon dioxide a year.

It has outpaced the European Union's carbon trading program to become the largest such market in the world.

The country started its pilot program in October 2011 in seven areas, including Hubei province, Beijing and Shanghai.

As of June, the pilot market has involved almost 3,000 major emitters from over 20 industries. Its total turnover has reached more than 11 billion yuan ($1.7 billion).

The emissions of greenhouse gases the pilot market has covered are equivalent to 480 million metric tons of carbon dioxide, according to the ministry.

 

[beijingwalker]

Chinese national carbon trading program​

The Chinese national carbon trading program is an intensity-based trading system for carbon dioxide emissions by China, which started operating in 2021.

This emission trading scheme (ETS) creates a carbon market where emitters can buy and sell emission credits. From this scheme, China can limit emissions, but allow economic freedom for emitters to reduce emissions or purchase emission allowances from other emitters.

The scheme is run by the Ministry of Ecology and Environment, which eventually plans to limit emissions from six of China's top carbon dioxide emitting industries.

 

[Menthol]

I don't understand.

How does it work?

 

[Song Hong]

I don't understand.

How does it work?

Carbon Credit is a nefarious plan by West to stop all others from being an advance country. I may explain further if PDF members are interested.

Basically China developed because she was building one coal plant every two weeks. Now the door is closed.

 

[Oracle]

solar takes very low maintenance cost as compared to traditional power plant. 90% initial cost and 10% maintaince cost

as compared to other traditional plant , 50% initial cost , 50% maintiance cost , which increase over year and require other input / fuel , wear and tear etc

 

[Brainsucker]

solar takes very low maintenance cost as compared to traditional power plant. 90% initial cost and 10% maintaince cost

as compared to other traditional plant , 50% initial cost , 50% maintiance cost , which increase over year and require other input / fuel , wear and tear etc

But Solar require more room. There are a lot of space that taken by Solar panel.