China’s National ETS全国碳排放交易体系

LIU Feng 刘峰

Ministry of Ecology and Environment 生态环境部Climate Change Department 应对气候变化司

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ontentsI. Background 碳市场建设背景

II. China‘s National ETS 全国碳排放交易体系

III. Next Step 下步工作

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Part I Background碳市场建设背景

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Integrated Reform Plan for Promoting Ecological Progress《生态文明体制改革总体方案》

The 13th Five-Year Plan for Economic Social Development of The People’s Republic of China“十三五”规划《纲要》

Background 碳市场建设背景

Joint climate change statement between China and the United States《中美元首气候变化联合声明》

Enhanced Actions on Climate Change: China’s Intended Nationally Determined Contributions《强化应对气候变化行动——中国国家自主贡献》

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Beijing 北京Population:19.6 mGDP: 1.78 trillionAllowance Allocated: 57mt

Tianjin 天津Population:14.1 mGDP: 1.29 trillionAllowance Allocated: 160 mt

Shanghai 上海Population:23.8 mGDP: 2 trillionAllowance Allocated: 160 mtHubei 湖北

Population:57.6 mGDP: 1.96 trillionAllowance Allocated: 340 mt

Chongqing 重庆Population:29.5 mGDP: 1.15 trillionAllowance Allocated:136mt

Guangdong 广东Population:105.9 mGDP: 5.7trillionAllowance Allocated: 388mt

Shenzhen 深圳Population:10.5 mGDP: 1.30 trillionAllowance Allocated: 34mt

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Region地区

Opening price开盘价

Closing price收盘价

Average price that day 日均价

Trading volume that day 日交易量

Trading value that day 日交易金额

Accumulated Trading volume 累计成交量

Accumulated trading value 累计交易金额

SZ 深圳 15.04 15.04 15.04 56,056 826,474.99 37,081,047 1,123,586,240.71

SH上海 - - - - - 12,486,547 325,509,100.27

BJ 北京 - - - - - 9,983,013 529,268,931.80

GD 广东 14.51 15.89 15.89 18,896 300,233.19 65,020,219 912,675,224.18

TJ天津 - - - - - 5,115,499 76,754,460.00

HB 湖北 30 29.92 28.34 8,700 246,547.94 60,130,031 1,173,996,785.78

CQ 重庆 - 5.33 5.33 5 26.65 8,424,986 28,213,837.06

Trading Volume交易总量 (until 17th Oct 2018, in RMB, in tons CO2e)

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China Launched National ETS 中国启动碳排放权交易体系

19th December 2017, China Launched National ETS 2017年12月19日，中国启动碳排放权交易体系

19th December 2017, Joint Agreement of Registry and Exchange System is signed签署注登系统和交易系统联合承建协议

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Part II

China's National ETS全国碳排放交易体系

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China’s National Carbon Market Launched 全国碳排放交易体系 启动

On 19 December 2017, China launched its national

emissions trading system (ETS) with approval from

the State Council. The launch is a major milestone

in China’s efforts to fight climate change.

2017年12月19日，经国务院同意，《全国碳排放权

交易市场建设方案（发电行业）》印发，标志着全国

碳排放交易体系正式启动，具有里程碑意义。

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Key Features 主要特点

Adopt a multi-phase approach and start with easy steps 阶段性，先易后难

Insist on using the carbon market as a policy tool to control GHG emissions 坚持将碳市场作为控制温室气体排放政策工具的工作定位

Use Unified Standards and insist on Market-Based Guidance统一标准，市场导向

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Framework 主要框架

8 Chapters, 23 items 8章，23条

Guideline, Basic Principles, Objectives and Tasks 总体要求，基本原则，任务目标

3 Key Elements of the Carbon Market, 3 Market Participants, 3 Basic Systems, 4 Supporting Systems, 4 Complementary Measures 3类市场要素，3类参与主体，3个基本制度，4个支撑系统，4项保障措施

Allowance Management in Power Generation Sector, Transition of ETS Pilots 发电行业配额管理，试点过渡

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Basic Principles 基本原则

Insist on using the carbon market as a policy tool to control GHG

emissions 坚持碳市场作为控制温室气体排放政策工具的工

作定位

Insist on market-base guidance and service-oriented governance 坚持市场导向、政府服务

Use unified standards and make sure the process is fair and transparent 坚持标准统一、公平公开

Start with easy steps and adopt a multi-phase approach 坚持先易后难、循序渐进

Insist on better coordination and wider stakeholder engagement 坚持协调统一、广泛参与

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Participants 参与主体Key Emission Entities 重点排放单位（early stage 初期: power generation sector 发电行业）

- Enterprises or other economic organizations from the power generation sector that emit more than 26,000 tons of carbon equivalent a year (or total annual energy consumption is above 10,000 tons of coal equivalent). Captive power plants in other sectors that pass the same emissions threshold are also recognized as “key emission entities.” 发电行业年度排放达2.6万吨二氧化碳当量（综合能源消费量约1万吨标准煤）及以上的其他行业自备电厂视同发电行业重点排放单位

- More entities will gradually be included 逐步扩大重点排放单位范围

Regulators 监管主体（classification supervision 分级监管 ）- National carbon trading authority 国家主管部门

- Relevant government agencies 地方主管部门

Third Party Verification Bodies 第三方核查机构Qualified verification bodies shall be entrusted with the task of verifying emissions data complying with regulations and technical rules, and then producing independent verification reports. In the process, they shall ensure the verification reports are genuine and credible. 符合条件要求的核查机构，依据核查有关规定和技术规范，受委托开展碳排放相关数据核查，并出具独立核查报告，确保核查真实、可信 13

System Development 相关制度

ETS trading system 市场交易相关制度

Allowance management system for key emission entities 重点排放单位配额管理制度

The system of measurement, reporting, and verification of carbon emissions 碳排放监测、报告和核查制度

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Supporting Infrastructure 支撑系统

Carbon emissions data

reporting system 数据报

送系统

ETS registry system

注册登记系统

ETS trading system

交易系统

ETS financial settlement

system交易结算系统

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Running Process 运行流程

Key emission entities report carbon emission data

企业数据报送

Third party verification 第三方核查

Governance distribute Allowance 政府分配配额

Key emission entities trading企业市场交易

Key emission entities submit Allowance企业配额清缴

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Tasks in Three Phases 阶段目标任务

Lay the Foundation 基础建设期

（Approximately 1 year）1

Have a Mock Operation模拟运行期

（Approximately 1 year）2

Optimize the Market深化完善期

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- Carbon emissions data reporting system, ETS registry system, ETS trading system 数据报送系统、注登系统、交易系统

- Capacity building能力建设

- Develop a governance system 管理制度建设

- Conduct the mock trading of allowances in the power generation sector 开展发电行业配额模拟交易

- Strengthen market risks management强化市场风险管理

- Improve governance & supporting systems 完善市场管理制度和支撑体系

- Conduct spot trading of allowances among participants from the power generation sector 在发电行业交易主体间开展配额现货交易

- Gradually expand to cover other sectors, trading products, and trading types 逐步扩大市场覆盖范围，丰富交易品种和交易方式

- CCERs also be considered 尽早纳入CCER 17

Part III

Next Step 下步工作

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Next Step

Complete the legal framework and regulatory systems 推动立法和市场管理制度建设

Conduct 2016-2017 field investigations and data collection to assess feasibility of the allocation methods for the 8 sectors.推动2016-2017年的历史数据报送、核算与核查工作，为科学确定配额分配方法和扩大碳市场覆盖行业范围进行技术性准备

Orderly conduct internal test in allowance allocation 有序推进配额试算

Accelerate the promotion of carbon market infrastructure construction 加快推进碳市场基础设施建设

Enhance capacity building 强化能力建设

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Thank you

LIU Feng liufeng@mee.gov.cn

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