On the afternoon of 22 March (Beijing time), GIZ China, the International Carbon Action Partnership (ICAP), and the World Bank’s Partnership for Market Readiness (PMI) launched the Chinese version of “Emissions Trading in Practice: A Handbook on Design and Implementation”, the second version which was released in English in 2021. The Chinese translation was coordinated and financed by the GIZ-implemented “Sino-German Cooperation on Emissions Trading Systems, Carbon Market Mechanisms, and Industry-related N2O Mitigation”, commissioned by the German Federal Ministry for Economic Affairs and Climate Action (BMWK) within the framework of the International Climate Initiative (IKI).
During the webinar that accompanied the launch of the translation, Mr Kristian WILKENING of GIZ China, Dr Giovanni RUTA from the World Bank, and Mr Stefano DE CLARA from the ICAP Secretariat delivered some opening remarks, underlining the significance of China’s newly launched ETS for carbon market development worldwide. They also voiced their conviction that the Chinese translation of the handbook would be received with great interest and resonance.
Mr Joe PRYOR from the World Bank presented the updated content of the handbook. He argued that policymakers should take special heed of the interlinkages between the ten ETS design steps outlined in the handbook. The final aim of the handbook’s authors, he asserted, was to make a contribution to the design of well-functioning carbon markets and to enable policymakers worldwide to learn from existing practices and experiences. Throughout, participants agreed that displaying carbon markets as a central GHG emission reduction tool was crucial for the fight against climate change.
In the ensuing panel session, moderator Mr QIAN Guoqiang from SinoCarbon introduced speakers Dr ZHANG Xin from NCSC, Prof WANG Ke from Renmin University, Dr ZHANG Jingjie from China Electricity Council and Ms ZHAO Xiaolu from EDF. They engaged in a fruitful exchange on the question of how carbon markets can enable China to achieve its carbon peaking and carbon neutrality goals. The experts elaborated on their respective points of view and concurred that as of now, China’s ETS had been off to a good start and had delivered promising results in the first compliance cycle. However, the policymakers also noted that more ambitious targets should be set for emissions reduction through emissions trading. Future policy measures, it was agreed, should focus on both incentivization and penalization, and include the cooperative coordination of multiple departments.
Click here to download the Chinese version of “Emissions Trading in Practice: A handbook on design and implementation (second edition)”
Click here to download the English version of “Emissions Trading in Practice: A handbook on design and implementation (second edition)”