June 11, 2018 – The government of Shanghai announced a new at 5.15 million tonnes cap on CO2 emission growth, thereby setting the target significantly lower than the 5.8 million tonnes cap in 2017. The cap is furthermore the lowest since the city introduced the caps, which are based on the annual carbon intensity reduction goal, three years ago. In Addition, the city also announced a lower cap for coal consumption and further investment in low carbon projects and in the new national emissions trading platform.
Several pilot cities also made important announcements last week. Guangdong announced that it would hold a PHCER offset credit auction, while Shenzhen and Tianjin both announced that June 30 will be their compliance deadline. The latter two also slightly amended their compliance regulation, while Hubei announced new offset eligibility rules.

Sources:
Shanghai: http://www.shdrc.gov.cn/xxgk/cxxxgk/33588.htm
Shenzhen: http://www.szpb.gov.cn/xxgk/qt/tzgg/201806/t20180605_12082435.htm
Tianjin: http://gk.tj.gov.cn/gkml/000125022/201806/t20180605_78344.shtml
Hubei: http://fgw.hubei.gov.cn/xw/tzgg_3465/gg/wbwj/201805/t20180531_136052.shtml
Guangdong: http://www.cnemission.cn/article/news/jysgg/201805/20180500001459.shtml

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Sino-German Project on Capacity Building for the Establishment of ETS in China

Project country
China
Political Partners
German Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU); Ministry of Ecology and Environment of the People's Republic of China (MEE)
Implementation Partners
National Center for Climate Change Strategy and International Cooperation of the People's Republic of China (NCSC)
Duration
07/2012 - 03/2020

The Chinese government has set itself the goal of reaching the peak of CO2 emissions by around 2030 and reducing CO2 emissions per unit of GDP by 60 to 65% compared to 2005 levels. To achieve these targets, China is gradually establishing a national Emission Trading System (ETS) as one of the key building blocks of its mitigation strategy. Since the start of the project in 2012, the Sino-German project “Capacity Building for the Establishment of Emissions Trading Schemes (ETS) in China” has been supporting the Chinese government in this endeavour through knowledge transfer and strengthening of the political leverage of key institutions and stakeholders required to develop and operate an ETS. Initially, the project supported the development of the regional pilots ETS. Since 2016, the focus lies on support for the roll out of the national ETS. The project is jointly implemented by GIZ and the Ministry of Ecology and Environment (MEE) of the People’s Republic of China. It is executed on behalf of the Federal Ministry for the Environment, Nature Conservation and Nuclear Safety (BMU) within the framework of the International Climate Initiative (IKI) that is financing climate and biodiversity projects in developing and newly industrialising countries, as well as in countries in transition.