Mar 2015 – Feb 2018

China Carbon Pricing (Phase 2)

China

Country

China – East Asia

To reduce emissions in China by supporting the implementation of a nationwide carbon pricing system by 2017.

$15,029,139 Multi-Year Grant Value

A carbon price is a cost applied to greenhouse gas emissions in order to encourage polluters to reduce the amount they emit into the atmosphere. It is widely acknowledged that introducing a carbon price is one of the most important ways for countries to reduce their emissions.

This programme is supporting the nationwide expansion of carbon pricing in China. It builds on a first phase investment, which supported the successful implementation of seven regional carbon market pilots to provide national policymakers with the confidence, data and evidence to roll out an emissions trading scheme at the national level.

The Environmental Defense Fund and SinoCarbon are helping to design and implement China’s carbon market system. The programme is focussing on: 

  • enhancing the measurement, reporting and verification (MRV) of emissions
  • strengthening the participation of businesses
  • facilitating working groups for industry to feed into the implementation process

Click here to read a discussion paper (PDF) about how to evaluate emission trading systems by Climate Strategies.

Impact

The nationwide start date of 2017 has been brought forward from 2020 following President Xi Jinping’s announcement in September 2015.