On July 16, the national carbon emissions trading market marked its third anniversary. According to the Ministry of Ecology and Environment, as of July 15, the cumulative trading volume of carbon emission allowances in the national carbon market had exceeded 460 million tons, with a total transaction value approaching 27 billion yuan. Overall, the market has been operating smoothly and has played a key role in promoting the green transformation of power generation enterprises. Since the launch of the carbon market three years ago, the closing price of carbon dioxide per ton has risen from over 40 yuan at the market’s opening to around 90 yuan. At one point, the highest historical carbon price even exceeded 100 yuan.
　　China’s carbon market was officially launched on July 16, 2021. During the first compliance period, a total of 2,162 key emission units in the power generation sector were included, covering annual carbon dioxide emissions of approximately 4.5 billion tons. In the second compliance period, the number of key emission units in the power generation sector increased to 2,257, with annual coverage of carbon dioxide emissions exceeding 5 billion tons. In terms of the scale of tradable carbon dioxide emissions, this makes it the largest carbon market in the world.
　　Since the beginning of this year, the development of the carbon market has been steadily accelerating. Following the resumption of the National Certified Emission Reduction (CCER) market in January, the "Interim Regulations on the Administration of Carbon Emission Rights Trading" officially came into effect on May 1, providing a clear legal basis for the operation and management of the national carbon emission rights trading market.
　　China’s carbon market has now entered its third compliance period. On July 2, the Ministry of Ecology and Environment publicly solicited comments on the “Draft Total Quota and Allocation Plan for the Power Generation Industry under the National Carbon Emission Trading Scheme for 2023 and 2024.”
　　Industry insiders say that currently, all companies participating in China’s carbon market are thermal power generation enterprises. In the first half of this year, the Ministry of Ecology and Environment released draft guidelines for carbon emission accounting, reporting, and verification—first for the aluminum smelting industry and then for the cement clinker industry—seeking public comments. It is expected that more mature industries will be brought into the carbon market this year.
　　460 million tons
　　As of July 15, the national carbon market has seen cumulative transactions of carbon emission allowances exceeding 460 million tons, with a total transaction value approaching 27 billion yuan.