Buzzword | Carbon trading market 碳排放权交易市场/碳交易市场


State Grid employees check solar power panels in the Tibet autonomous region. [Photo by Song Weixing/For China Daily]

China's national carbon trading market started online trading on July 16, a significant step to help the country reduce its carbon footprint and meet emission targets, according to the Ministry of Ecology and Environment.



Trading began at 9:30 a.m. at the Shanghai Environment and Energy Exchange with the opening price for the carbon quota at 48 yuan (7.4 U.S. dollars) per tonne.




Carbon emissions by more than 2,000 power companies covered in the first batch of trading are estimated to exceed 4 billion tonnes per year, making the market the world's largest in terms of the amount of greenhouse gas emissions covered.



China's national carbon trading market was launched in 2017 after a pilot operation in seven provincial regions in 2011. The idea behind its launch was to explore market-based mechanisms to control greenhouse gas emissions. 



It is also expected to be an important scheme for China to realize the goal of peaking carbon dioxide emissions by 2030 and achieving carbon neutrality by 2060.


Related expressions

carbon footprint  碳足迹

carbon neutrality  碳中和 (请戳往期链接)

carbon finance  碳金融  (请戳往期链接)

green development  绿色发展 (请戳往期链接)

low-carbon development  低碳发展 (请戳往期链接)

ecological civilization  生态文明 请戳往期链接)

Collected by Lv Yun, Wu Qin (intern)

Edited by Lv Yun

Sources: Xinhua, CGTN