Related News
Guangdong to trade carbon permits
Print Edition
Guangdong, China’s most populous province with more than 100 million people, is to launch a carbon permits market next month that will be the world’s second-biggest after the European Union.
China has pledged to cut its carbon dioxide emissions per unit of gross domestic product by up to 45 percent by 2020. Shanghai launched a carbon market on Tuesday, and Beijing follows today.
The scheme in heavily industrialized Guangdong will cap carbon dioxide emissions from 202 companies at 350 million tons for 2013, according to a statement on the website of the provincial development and reform commission.
Most permits, including 97 percent of what emitters get, will be handed out free on December 10, but the provincial government will also auction 29 million permits for this year from mid-December, it said, without giving a specific date.
The Guangzhou-based China Emissions Exchange will open a secondary market for permits by the end of December.
Among the firms covered by the scheme, which will dwarf the markets in Australia and California, are state-owned power companies Datang, Huaneng and Shenhua, along with manufacturers and petrochemical firms.
Opening bids for the auctioned permits should be made at 60 yuan (US$9.85), the government said, but the Guangdong emissions trading scheme does not have a formal floor price.
Carbon permits on the Shenzhen market, China’s first, ended at 72.76 yuan on Tuesday while those in Shanghai debuted on the same day at 27 yuan.
Beijing’s market will be around a quarter the size of the Guangdong scheme in terms of carbon dioxide covered.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
