China's national carbon market will start online trading on July 16, according to an announcement on the website of the Shanghai Environment Energy Exchange on July 15.
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Register NowThe highly anticipated launch of China's carbon market paves the way for the decarbonization of its industries, starting from the power sector, and will help meet the country's long-term 2060 carbon neutrality goals.
"According to our nation's arrangement, the nationwide trading of carbon emission allowances will start on July 16. All participants of the national carbon market please arrange your work according to this," the Shanghai Environment Energy Exchange, which will host the online trading platform, said in the announcement.
In a second announcement dated July 15, the exchange said that a public account on the social media platform Wechat has been created for the national carbon market to post the latest market updates, including policies, announcements, and trading data.
The day-to-day deviations in China's carbon market prices are to be limited to 10% for transactions below 100,000 mt of CO2 and 30% for larger transactions. The market will open for trading 9:30 am-11:30 am and 1:00 pm-3:00 pm, Monday to Friday in Shanghai, according to a June 22 announcement by the exchange.
Shanghai Environment Energy Exchange was in charge of opening trading accounts for the carbon market as well as the operations and maintenance of the platform prior to the launch of China's carbon market.
China's government agencies have been preparing for the launch of a carbon market for nearly a decade, in what is expected to be the world's largest carbon market by volume of carbon allowances traded.
The first batch of participants will include 2,225 power companies with coal-fired and gas-fired generation units, collectively accounting for over 4 billion mt of CO2 emissions, according to the environment ministry's previous statements.
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China's national carbon market will start online trading July 16: exchange - S&P Global
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