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Beijing’s Pilot Emission Trading System
With the objective to gradually establish a national carbon trading market and achieve the country’s goal of controlling GHG emissions, China’s National Development and Reform Commission approved 7 local governments as Emission Trading System (ETS) pilots in 2011, aiming to (1）contribute to effective control and reduction of carbon emissions; (2) achieve green and low carbon development; (3) mitigate haze pollution and emission of other pollutants for better air quality; and (4) develop a new financial mechanism for the market.
This case study was developed by the Asia LEDS Partnership and the ICLEI East Asia Secretariat, with support from the Climate Change Research Center of the Beijing Municipal Ecology and
Environment Bureau. It summarizes a few key points regarding the experience of the Beijing ETS, which was launched in November 2013 as one of the seven pilots in China. Moving into the seventh year of operation, the Beijing ETS now has over 900 liable entities, covering about 45% of the jurisdiction’s total emissions. 29.07 million tons of emissions allowances have been traded via the system, accounting for a total value of CNY 1.049 billion (USD 146,860 million).