China’s national carbon emissions exchange, the world’s largest carbon market covering one-seventh of global carbon dioxide emissions from fossil-fuel combustion, marked its one-year anniversary on Saturday, reports the South China Morning Post.
The carbon price in the national emissions trading scheme (ETS) closed at RMB 58.24 per tonne on Friday, compared to RMB 51.23 per tonne on its first trading day on July 16 last year. Total trading volumes reached RMB 8.49 billion, with 194 million tonnes of emissions transacted as of Friday, according to the Shanghai Environment and Energy Exchange, the department that oversees the national ETS.
Strengthening the quality of data monitoring and management regarding emissions was also highlighted by China’s Ministry of Ecology and Environment (MEE) at a meeting on Wednesday. The national carbon market has “achieved positive results and established a preliminary scientific and effective system,” said MEE officials on Wednesday.
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