China News Service, Beijing, August 3 (Reporter Pang Wuji) Since July 16, China's carbon emissions trading market has been online for more than half a month.
The first batch of key emission units in the power generation industry to participate in the national carbon emission rights trading exceeded 2,162.
The latest data disclosed by the Shanghai Environment and Energy Exchange shows that since the national carbon market went online (as of July 30), the cumulative transaction volume has reached nearly 300 million yuan (RMB, the same below), and the transaction volume has exceeded 5.95 million tons of carbon dioxide.
On July 30, the closing price of the National Carbon Market Carbon Emission Allowance (CEA) was 54.17 yuan per ton, an increase of 12.85% from the online opening price.
What is the scale and potential of China's carbon market in the future?
China News Agency "China Focus Face to Face" interviewed Zhang Xiliang, director of the Institute of Energy, Environment and Economics of Tsinghua University and head of the technical expert group for the overall design of the national carbon emissions trading system.
Photo by China News Agency reporter Jiang Qiming
Zhang Xiliang, director of the Institute of Energy, Environment and Economics of Tsinghua University and head of the National Carbon Emissions Trading System General Design Technical Expert Group, recently pointed out in an exclusive interview with China News Service that the national carbon market started from the power generation industry, and the current scale has exceeded 40. Billion tons.
He pointed out that in China, carbon emissions mainly come from two industries, power and industry.
In the future, the coverage of the carbon market will be further extended to industrial industries such as steel, building materials, petroleum, chemical, non-ferrous metals, and the final annual carbon dioxide emissions will exceed 7 billion tons, accounting for more than 70% of the national carbon emissions.
After the launch of China's carbon market, the price of carbon was about US$8 per ton. "I think this is a very good level," said Zhang Xiliang.
A key factor in determining the carbon price is whether the country’s carbon emission reduction targets are strict or not, and how much the country expects the carbon market to play a role.
He said that according to estimates, the current marginal cost of abatement on a full economic scale in China is about $7.
For the carbon market to play an effective role, the carbon price should be greater than or equal to $7 (per ton).
The current carbon price is higher than this level, which is an effective carbon price.
In the future, towards the peak of carbon in 2030 and the goal of carbon neutrality in 2060, the full-scale carbon emission reduction costs of the Chinese economy will also increase, so there is still room for carbon prices to rise.
Zhang Xiliang pointed out that we estimate that during the "14th Five-Year Plan" period, the carbon price in China's carbon market may be around US$8 to US$10 per ton; during the "15th Five-Year Plan" period, the carbon price may further rise to US$15 per ton.
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