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China’s Giant Carbon Market to Start Trading This Week

"China’s national carbon market, which will become the world’s largest emissions trading system, will finally begin online trading on Friday, according to people familiar with the matter.

The program was announced more than three years ago, and takes over from regional pilot projects that have been around even longer. This year it will cover power companies that account for about half of the country’s and 14% of the world’s energy-related emissions. China’s market will eventually grow to encompass more industries, such as steel- and cement-makers.

When trading starts in China, carbon prices are forecast to trade at 40 yuan ($6.19) a ton this year, before rising to 160 yuan a ton in 2030, data provider Refinitiv said last month. The advance will be due to increasingly stringent green policies in China, and as additional industries join".

https://www.bloomberg.com