Key Documents & Presentations
In April 2015, China's pilot ETS program reached a value of $122 million.
The PMR will provide support to China to develop its nation-wide emissions trading system. This will include assistance with cap setting, allocation, MRV design and set up, as well as design of a supporting legal framework. In addition, the Chinese ETS will include mechanisms for price containment and market oversight. Specific analytical work will be carried out on the inclusion of state-owned enterprises and the power sector. The national ETS is expected to launch in phases between 2016 and 2020.
China’s annual GHG emissions in 2008 was estimated as 7,031 million tonnes, while per capita CO2 emissions from fossil fuel combustion in China were 5.13 tons in 2009, equivalent to 52% of the average level in OECD countries.
China’s climate change strategy is integrated into its social and economic development planning. Action on climate change mitigation will be an important catalyst for the restructuring of key aspects of the Chinese economy, including the power sector. China pledges to reduce its carbon dioxide emissions per unit of GDP by 40–45% by 2020, compared with 2005 levels, , and decrease by 17% by 2015. China aims to increase non-fossil-based primary energy consumption to 15% by 2020.
China has built its administrative and working mechanisms to address climate change issues under the National Development and Reform Commission (NDRC), with division of responsibilities among relevant ministries based on sectors and provincial bodies. Policies have been designed based on China’s National Climate Change Program and the 12th Five Year Plan. The 2009 Resolution of the Standing Committee of the National People’s Congress to develop responses to climate change requires the alignment of climate change related laws with the government’s working plan.
In order to achieve its emissions reduction target, the Chinese government is piloting emissions trading in seven regions in ChinaThese pilots cover 5 cities and 2 provinces, accounting for 18% of China’s population and 28% of its national GDP. All seven pilots were launched between 2013 and 2014. They include: Beijing, Tianjin, Shanghai, Chongqing, Hubei, Guangdong, and Shenzhen.
A nation-wide ETS is expected to be launched in a phased-approach between 2015 and 2020. Offset credirs will be allowed within China's ETS.
Offset and/or Other Emission Reduction Crediting Programs
Since 2005, China has developed a large number of CDM projects, and the country ranks the highest in terms of the number of registered projects and estimated average annual reductions.
- 2,708 CDM projects (52.1% of the world’s total) registered after CDM Executive Board’s approval (as of end of November, 2012)
- 460million tons of CO2 equivalent (65% of the world’s total) estimated as average annual reductions of Chinese CDM projects.
Other Activities to Support the Development of Market-based Mechanisms
A voluntary emission trading market has been initiated since 2008. In 2009, “Panda standard” (a voluntary carbon standard) was issued. In June 2012, the NDRC released the Interim Regulation and the guidelines to effectively implement national-level framework of voluntary market trading.
- The Ministry of Finance is the national focal point to the World Bank and for the financial management of resources from the PMR.
- The National Development and Reform Commission (NDRC) is the implementing agency of the project responsible for the project oversight, preparation of the work plans and report, coordination with relevant organizations and filing of project documents. News from the NDRC is available here.
All Documents & Presentations
|China: Upstream Analytical Work to Support Mid- and Long-term Mitigation Objectives||English||June 2015|
|Policy Mapping Workshop: China's ETS - Policies and Challenges||English||March 2013|
|MRV Practice In China||English||June 2015|
|China: Status and Challenges to Monitoring National GHG Emissions||English||September 2014|
|China: Status and Challenges Monitoring Facility-Level Emissions||English||September 2014|
|China: Interaction Between GHG Transaction Registries in Market Mechanisms||English||September 2014|
|China: QA/QC Operations at the Facility-Level||English||September 2014|
|PMR Technical Note 8: A Survey of the MRV Systems for China’s ETS Pilots||English||July 2014|
|Energy Efficientcy Measurement and Verification Issues and Options||English||July 2013|
|Modeling & Reporting Workshop: Installation Level Emissions Data Collection in China||English||October 2012|
|ETS Workshop: Low Carbon Development in Shenzhen, China||English||March 2012|
|ETS Workshop: Allocation in Emissions Trading - China||English||March 2012|
|ETS Workshop: Why Emissions Trading - China||English||March 2012|
|China: Data Management System and Lessons Learned||English|
|Resolution PA5/2013-3: Allocation of the Implementation Phase Funding to China||English||March 2013|
|China Carbon Market Monitor May 2015||English||May 2015|
|China: Domestic Offset Scheme||English||March 2014|
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