October 08, 2018 – According to the new scientific report by the Intergovernmental Panel on Climate Change (IPCC) of the United Nations, limiting global warming to 1.5 degrees Celsius above pre-industrial level could stave off the most catastrophic consequences of climate change. Human activities are estimated to have caused 1 degree Celsius global warming already, and “rapid, far-reaching and unprecedented changes in all aspects of society” are required to achieve this aim. For this, the report mentions carbon pricing as one of many instruments to tackle climate change. Carbon pricing “could minimise the social costs of the low carbon transition by equating the marginal costs of abatement across all sources of emissions“. The report is the key scientific input into the COP 24 in Poland in December, when governments review the Paris Agreement.

Source:
http://ipcc.ch/report/sr15/

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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.