10/17/2021

Chinese Carbon Market Doldrums May Undermine Climate Efforts

Regulatory uncertainty and a lack of transparency have left trade on China’s seven pilot carbon exchanges in the doldrums, which could undermine efforts to cut the nation’s greenhouse gas emissions.

China told the United Nations on Tuesday it would cap its emissions by 2030, and promised to cut carbon intensity – the amount produced per unit of economic growth – by 60-65 percent from 2005 levels by then as well.

China told the U.N. it would build on the pilot regional schemes to help make the cuts, and “steadily implement a nationwide carbon emissions trading system”.

The national scheme should be ready by the end of next year or early 2017, but traders said the transition to a national system is already causing problems.

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