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At 9:30 a.
m.
on July 16, the national carbon emission rights trading was officially launched at the Shanghai Environment and Energy Exchange
.
According to the Shanghai Environmental Energy Exchange’s previous “Announcement on Matters Related to National Carbon Emissions Trading”, the maximum number of single transactions in the national carbon market listing agreement transaction should be less than 100,000 tons of carbon dioxide equivalent, and the trading limit is 10%.
The trading hours are from Monday to Friday from 9:30 to 11:30 in the morning and from 13:00 to 15:00 in the afternoon
.
At 9:30, the first national carbon transaction has been successfully matched, with a price of 52.
78 yuan per ton, a total of 160,000 tons of transactions and a transaction volume of 7.
9 million yuan
.
It is understood that the first batch of key emission units in the power generation industry that participated in the national carbon emission rights transaction exceeded 2,000, and the carbon emissions of these companies exceeded 4 billion tons of carbon dioxide
.
This also means that China's carbon emissions trading market has become the world's largest carbon market covering greenhouse gas emissions
.
The carbon trading market is to achieve the goal of controlling the total amount of carbon emissions through the trading of carbon emission rights
.
In layman's terms, the right to carbon dioxide emissions is sold as a commodity.
Companies that need to reduce emissions will get a certain amount of carbon emission allowances.
If they succeed in reducing emissions, they can sell excess allowances, while excess emissions need to buy allowances on the carbon market
.
The opening of the carbon trading market also means that this will affect the production and operation of various carbon emission companies, and at the same time, there will be new business opportunities.
As companies that are closely related to carbon emissions, they must know the following six points in order to There is preparation and anticipation in the new pattern of future production
.
How does the carbon exchange affect carbon emissions? The carbon exchange mainly has two trading varieties: carbon allowance and CCER
.
Among them, carbon allowances are hard currency in the market, and CCER is relatively a supplementary mechanism, which is more affected by policies
.
The goal of the carbon exchange is to influence the cost of enterprises through market-based carbon prices.
The higher the carbon price, the lower the carbon emissions.
.
Simply put, when the carbon price increases, it will increase the cost of the company.
When the company's profits decrease or even lose money, it will take the initiative to reduce production, thereby reducing the amount of carbon emissions
.
In addition, it will also promote enterprises to upgrade equipment and reduce unit energy consumption
.
Industry distribution of carbon emissions? Among the industries responsible for carbon emissions in China in 2019, the power industry accounted for 43%
.
The first batch of industries included in the carbon exchange is also the power industry.
During the 14th Five-Year Plan period, the building materials, steel, non-ferrous, chemical and other industries will also be included in the system.
The future carbon exchange will cover almost all major carbon emissions Industry
.
How to determine the carbon allowance? Carbon allowance: It is the carbon emission quota obtained by the enterprise, which is initially issued by relevant departments for free
.
The formula for calculating the quota obtained by each enterprise: the total amount of unit quota = power supply reference value * actual power supply * correction factor + heating reference value * actual heat supply
.
Relevant departments determine a baseline based on the industry's historical carbon emission intensity, and combined with the company's production capacity, the company's carbon emission quota can be known
.
National certified voluntary emission reductions: Some "emission reduction methodology" that has been filed by the competent authority, such as 254 projects such as new energy, hydropower, forestry carbon sinks, and biogas, can independently apply for CCER
.
However, key emission units can only use up to 5% of CCER to offset the carbon emission allowance gap.
The Shanghai Carbon Exchange only allowed 1% of CCER to be supplied to the market in the initial stage, resulting in low prices
.
How to measure carbon emissions? Direct measurement: The online monitoring instrument is placed at the outlet of the flue gas of the power plant to measure the gas emissions.
At present, it has not been adopted in China, mainly because the technology is not mature yet
.
Partial calculation: first calculate the emissions from the consumption of fossil fuels, how much fossil fuel, how much coal, how much fuel, etc.
are used, and get the carbon content of the element based on some experience or actual measurement, and finally multiply the two to get the direct emissions Amount
.
What about the pilot carbon exchange?
As early as 2011, 8 provinces and cities in China have launched carbon trading pilot projects
.
However, the scope and standards of the industries included in carbon trading are different in various provinces and cities.
Shanghai, Beijing, and Guangdong cover a wider range of industries
.
Due to different industries and standards, for example, Beijing has included carbon emissions of more than 5,000 tons into the scope of carbon trading, so the number of units included has reached 947; Chongqing’s inclusion standard is that carbon emissions of more than 20,000 tons.
Therefore, the number of units included is only 230
.
This has directly led to large differences in carbon prices in various regions.
During 2020, the average transaction price of carbon emission allowances in Beijing was 73-87 yuan/ton; in the same period, the carbon price in Chongqing was only 5.
576 yuan/ton
.
Judging from the situation in the pilot regions, there are two main aspects that affect carbon prices: policies and different levels of economic development in various regions
.
Will carbon prices rise in the future?
The carbon price is mainly affected by both supply and demand.
The total supply is mainly determined by the top level.
If the demand exceeds expectations under a given supply, the carbon price will rise
.
With reference to the European Union, in the early days of the launch of carbon trading, carbon prices did not fluctuate much, but with the improvement of regulations, the highest carbon price in the EU market reached 380 yuan/ton
.
In contrast, the highest carbon price in China during the pilot period was 122.
97 yuan/ton set in Shenzhen
.
In the future, as the number of industries included in China's carbon trading increases and laws and regulations become more complete, there is still a lot of room for carbon prices
.
Zhao Yingmin, deputy minister of the Ministry of Ecology and Environment, said that ensuring the truthfulness and accuracy of carbon emissions data is the top priority of the national carbon market construction work
.
In order to further improve the data quality of the national carbon market, we will actively promote the early release of the "Interim Regulations on the Management of Carbon Emissions Trading", increase penalties for data fraud, and strengthen law enforcement guarantees
.
Continue to strengthen capacity building and enhance the business capabilities of all parties involved in the carbon market
.
Strengthen supervision and guidance, continue to carry out supervision and assistance to local ecological environment departments and enterprises, and pay close attention to data management
.
Strengthen the construction of information disclosure and credit system, and use the power of the whole society to supervise data management work
.
The Ministry of Ecology and Environment has organized and carried out data accounting, reporting and verification of high-emission industries such as power generation, petrochemical, chemical, building materials, steel, non-ferrous metals, papermaking, and aviation across the country for many years
.
In the next step, the Ministry of Ecology and Environment will speed up the revision of the national standards for the accounting and reporting of greenhouse gas emissions in related industries in accordance with the mature principle of one approval and release one, and study and formulate allowance allocation plans by industry.
Expand the scope of the carbon market to cover industries
.
Ke Ruihua, president of the U.
S.
Environmental Protection Association, issued a statement on the 16th, pointing out that the online trading of the national carbon market marks another major milestone in China’s response to climate change, and also a successful end to the preparations for the official operation of the world’s largest carbon market.
.
Ke Ruihua said that China has proposed that carbon dioxide emissions will reach the peak before 2030 and strive to achieve carbon neutrality by 2060, and the national carbon market will be one of the core policy tools to achieve the above goals
.
A well-functioning carbon market can not only help achieve high-quality peaks, but also accelerate efforts to reduce carbon emissions
.
China's promotion of the construction and operation of the national carbon market signifies its firm confidence in participating in global climate governance
.
Disclaimer The content of this article is comprehensively sourced from Wall Street knowledge, Shanghai Environmental Energy Exchange, etc.
, edited by Ai Tubang.
Please indicate the source for reprinting
.
If it involves the content of the work, copyright and other issues, please contact this official account in time, we will delete the content as soon as possible!
m.
on July 16, the national carbon emission rights trading was officially launched at the Shanghai Environment and Energy Exchange
.
According to the Shanghai Environmental Energy Exchange’s previous “Announcement on Matters Related to National Carbon Emissions Trading”, the maximum number of single transactions in the national carbon market listing agreement transaction should be less than 100,000 tons of carbon dioxide equivalent, and the trading limit is 10%.
The trading hours are from Monday to Friday from 9:30 to 11:30 in the morning and from 13:00 to 15:00 in the afternoon
.
At 9:30, the first national carbon transaction has been successfully matched, with a price of 52.
78 yuan per ton, a total of 160,000 tons of transactions and a transaction volume of 7.
9 million yuan
.
It is understood that the first batch of key emission units in the power generation industry that participated in the national carbon emission rights transaction exceeded 2,000, and the carbon emissions of these companies exceeded 4 billion tons of carbon dioxide
.
This also means that China's carbon emissions trading market has become the world's largest carbon market covering greenhouse gas emissions
.
The carbon trading market is to achieve the goal of controlling the total amount of carbon emissions through the trading of carbon emission rights
.
In layman's terms, the right to carbon dioxide emissions is sold as a commodity.
Companies that need to reduce emissions will get a certain amount of carbon emission allowances.
If they succeed in reducing emissions, they can sell excess allowances, while excess emissions need to buy allowances on the carbon market
.
The opening of the carbon trading market also means that this will affect the production and operation of various carbon emission companies, and at the same time, there will be new business opportunities.
As companies that are closely related to carbon emissions, they must know the following six points in order to There is preparation and anticipation in the new pattern of future production
.
How does the carbon exchange affect carbon emissions? The carbon exchange mainly has two trading varieties: carbon allowance and CCER
.
Among them, carbon allowances are hard currency in the market, and CCER is relatively a supplementary mechanism, which is more affected by policies
.
The goal of the carbon exchange is to influence the cost of enterprises through market-based carbon prices.
The higher the carbon price, the lower the carbon emissions.
.
Simply put, when the carbon price increases, it will increase the cost of the company.
When the company's profits decrease or even lose money, it will take the initiative to reduce production, thereby reducing the amount of carbon emissions
.
In addition, it will also promote enterprises to upgrade equipment and reduce unit energy consumption
.
Industry distribution of carbon emissions? Among the industries responsible for carbon emissions in China in 2019, the power industry accounted for 43%
.
The first batch of industries included in the carbon exchange is also the power industry.
During the 14th Five-Year Plan period, the building materials, steel, non-ferrous, chemical and other industries will also be included in the system.
The future carbon exchange will cover almost all major carbon emissions Industry
.
How to determine the carbon allowance? Carbon allowance: It is the carbon emission quota obtained by the enterprise, which is initially issued by relevant departments for free
.
The formula for calculating the quota obtained by each enterprise: the total amount of unit quota = power supply reference value * actual power supply * correction factor + heating reference value * actual heat supply
.
Relevant departments determine a baseline based on the industry's historical carbon emission intensity, and combined with the company's production capacity, the company's carbon emission quota can be known
.
National certified voluntary emission reductions: Some "emission reduction methodology" that has been filed by the competent authority, such as 254 projects such as new energy, hydropower, forestry carbon sinks, and biogas, can independently apply for CCER
.
However, key emission units can only use up to 5% of CCER to offset the carbon emission allowance gap.
The Shanghai Carbon Exchange only allowed 1% of CCER to be supplied to the market in the initial stage, resulting in low prices
.
How to measure carbon emissions? Direct measurement: The online monitoring instrument is placed at the outlet of the flue gas of the power plant to measure the gas emissions.
At present, it has not been adopted in China, mainly because the technology is not mature yet
.
Partial calculation: first calculate the emissions from the consumption of fossil fuels, how much fossil fuel, how much coal, how much fuel, etc.
are used, and get the carbon content of the element based on some experience or actual measurement, and finally multiply the two to get the direct emissions Amount
.
What about the pilot carbon exchange?
As early as 2011, 8 provinces and cities in China have launched carbon trading pilot projects
.
However, the scope and standards of the industries included in carbon trading are different in various provinces and cities.
Shanghai, Beijing, and Guangdong cover a wider range of industries
.
Due to different industries and standards, for example, Beijing has included carbon emissions of more than 5,000 tons into the scope of carbon trading, so the number of units included has reached 947; Chongqing’s inclusion standard is that carbon emissions of more than 20,000 tons.
Therefore, the number of units included is only 230
.
This has directly led to large differences in carbon prices in various regions.
During 2020, the average transaction price of carbon emission allowances in Beijing was 73-87 yuan/ton; in the same period, the carbon price in Chongqing was only 5.
576 yuan/ton
.
Judging from the situation in the pilot regions, there are two main aspects that affect carbon prices: policies and different levels of economic development in various regions
.
Will carbon prices rise in the future?
The carbon price is mainly affected by both supply and demand.
The total supply is mainly determined by the top level.
If the demand exceeds expectations under a given supply, the carbon price will rise
.
With reference to the European Union, in the early days of the launch of carbon trading, carbon prices did not fluctuate much, but with the improvement of regulations, the highest carbon price in the EU market reached 380 yuan/ton
.
In contrast, the highest carbon price in China during the pilot period was 122.
97 yuan/ton set in Shenzhen
.
In the future, as the number of industries included in China's carbon trading increases and laws and regulations become more complete, there is still a lot of room for carbon prices
.
Zhao Yingmin, deputy minister of the Ministry of Ecology and Environment, said that ensuring the truthfulness and accuracy of carbon emissions data is the top priority of the national carbon market construction work
.
In order to further improve the data quality of the national carbon market, we will actively promote the early release of the "Interim Regulations on the Management of Carbon Emissions Trading", increase penalties for data fraud, and strengthen law enforcement guarantees
.
Continue to strengthen capacity building and enhance the business capabilities of all parties involved in the carbon market
.
Strengthen supervision and guidance, continue to carry out supervision and assistance to local ecological environment departments and enterprises, and pay close attention to data management
.
Strengthen the construction of information disclosure and credit system, and use the power of the whole society to supervise data management work
.
The Ministry of Ecology and Environment has organized and carried out data accounting, reporting and verification of high-emission industries such as power generation, petrochemical, chemical, building materials, steel, non-ferrous metals, papermaking, and aviation across the country for many years
.
In the next step, the Ministry of Ecology and Environment will speed up the revision of the national standards for the accounting and reporting of greenhouse gas emissions in related industries in accordance with the mature principle of one approval and release one, and study and formulate allowance allocation plans by industry.
Expand the scope of the carbon market to cover industries
.
Ke Ruihua, president of the U.
S.
Environmental Protection Association, issued a statement on the 16th, pointing out that the online trading of the national carbon market marks another major milestone in China’s response to climate change, and also a successful end to the preparations for the official operation of the world’s largest carbon market.
.
Ke Ruihua said that China has proposed that carbon dioxide emissions will reach the peak before 2030 and strive to achieve carbon neutrality by 2060, and the national carbon market will be one of the core policy tools to achieve the above goals
.
A well-functioning carbon market can not only help achieve high-quality peaks, but also accelerate efforts to reduce carbon emissions
.
China's promotion of the construction and operation of the national carbon market signifies its firm confidence in participating in global climate governance
.
Disclaimer The content of this article is comprehensively sourced from Wall Street knowledge, Shanghai Environmental Energy Exchange, etc.
, edited by Ai Tubang.
Please indicate the source for reprinting
.
If it involves the content of the work, copyright and other issues, please contact this official account in time, we will delete the content as soon as possible!
