New rules for national carbon trading market to go into effect in Feb.
2021-01-23 09:12:58 source：CGTN
January 22, 2021
China's Ministry of Ecology and Environment (MEE) has rolled out new interim rules for the country's carbon emissions trading management. The new rules will go into effect on February 1 this year.
The rules set a new national emissions trading system that for now includes entities that put out 26,000 tons of carbon dioxide or its equivalent every year. The participants would be able to sell and buy emission allowances within the mechanism.
The trading mechanism would largely model on pilot areas, including China's capital city Beijing, which has been trying out in the area for the last decade. The city set up China Beijing Environmental Exchange (CBEEX) back in 2008 and has witnessed a major increase in carbon trading deals since then, according to Zou Yi, assistant general manager at CBEEX. The city now counts some 900 enterprises trading carbon emission quotas.
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