China News Service, Beijing, January 24 (Reporter Ruan Yulin) Liu Youbin, spokesperson of the Ministry of Ecology and Environment of China, told reporters in Beijing on the 24th that the first compliance cycle of the national carbon market has successfully concluded, with a compliance completion rate of 99.5%.
Overall, the basic framework of the national carbon market has been initially established, and the role of the price discovery mechanism has initially emerged.
On July 16, 2021, the online trading of the national carbon market was officially launched.
It has included 2,162 key emission units in the power generation industry, covering about 4.5 billion tons of carbon dioxide emissions, making it the world's largest carbon market.
Liu Youbin said that the national carbon emission trading market is an important policy tool to promote the realization of China's carbon peaking and carbon neutrality goals.
The Ministry of Ecology and Environment has solidly promoted the construction of the national carbon market, established a system of policies, regulations and technical specifications to support the operation of the national carbon market, formulated and released the implementation plan for the allocation of quotas for the first compliance period, completed the construction of the basic support system, and strengthened data quality. management, and guide local ecological environment departments and emission control enterprises to strengthen capacity building.
As of December 31, 2021, the cumulative transaction volume of carbon emission allowances in the national carbon market was 179 million tons, the cumulative transaction volume was 7.661 billion yuan, the average transaction price was 42.85 yuan per ton, and the compliance completion rate was 99.5% (calculated by the compliance volume). The first compliance cycle of the national carbon market came to a successful conclusion.
Liu Youbin said that, in general, the basic framework of the national carbon market has been initially established, the role of the price discovery mechanism has initially appeared, the awareness and ability of enterprises to reduce emissions has been effectively improved, and the role of promoting enterprises to reduce greenhouse gas emissions and accelerate green and low-carbon transformation has initially appeared.
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