THE LARGEST CARBON MARKET IN THE WORLD

Published in the dossier of July 2017

China is the leading greenhouse gas-emitting country, releasing 10.96 billion metric tons in 2015, i.e. around 30% of global CO2 emissions. It is going to take a firm stance against global warming with the launch, in late 2017, of a national carbon market twice as powerful as the European Union’s market and bigger than all of the existing ones put together. Since 2011, seven Chinese regions have been testing pilot projects for exchanging CO2 emission quotas. To contain the average global temperature rise, from 2017 onwards the government will ask 10,000 companies from eight sectors to enter this market. After 2020, the authorities will open it up to more companies and extend it to 31 provinces and six other industrial sectors. At the beginning, some four billion metric tons of CO2 emissions will be concerned, i.e. almost half of the country’s total emissions.

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