{"id":11067,"date":"2022-10-10T07:30:32","date_gmt":"2022-10-10T07:30:32","guid":{"rendered":"https:\/\/focus.cbbc.org\/?p=11067"},"modified":"2025-04-23T09:37:21","modified_gmt":"2025-04-23T09:37:21","slug":"how-successful-is-chinas-emissions-trading-system","status":"publish","type":"post","link":"https:\/\/focus.cbbc.org\/how-successful-is-chinas-emissions-trading-system\/","title":{"rendered":"How successful is China’s emissions trading system?"},"content":{"rendered":"

China is tackling data integrity issues within its carbon market, but more efforts are urgently needed to establish effective controls and minimise complications brought on by other policy drivers, write Alistair Ritchie<\/strong> and Chen Yi<\/strong> from China Dialogue<\/strong><\/h2>\n

As concern about climate change increases, a growing number of countries have pledged to reduce carbon emissions by implementing one of the most cost-effective solutions, an emissions trading system (ETS). So far, jurisdictions accounting for 55% of global GDP are using emissions trading.<\/p>\n

China\u2019s recently established national ETS has drawn tremendous attention worldwide. It is expected to serve as China\u2019s primary tool to meet its \u2018dual carbon\u2019 targets of CO2 peaking before 2030 and carbon neutrality before 2060. The largest ETS globally, it accounts for 40% of China\u2019s emissions and more than 10% of worldwide emissions, with the potential to double in size once industrial sectors are added to the already-covered energy sector. It is also the first nationwide ETS in a large developing country.<\/p>\n

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How does China\u2019s ETS work?<\/h4>\n