The national carbon emissions trading market launched online trading on July 16. The power generation industry was the first industry to be included, with 2,225 power companies taking the lead.
The targets of carbon peak and carbon neutrality have been added to China’s overall plan for ecological conservation. We are now making an action plan and are already taking strong nationwide actions toward carbon peak. Support is being given to peaking pioneers from localities, sectors and companies. China will strictly control coal-fired power generation projects, and strictly limit the increase in coal consumption over the 14th Five-Year Plan period and phase it down in the 15th Five-Year Plan period. Moreover, China has decided to accept the Kigali Amendment to the Montreal Protocol and tighten regulations over non-carbon dioxide emissions. China’s national carbon market will also start trading.