Hubei Province published Allowance Allocation Plan for 2017
16 January 2018 – The Hubei Development and Reform Commission (DRC) published the 2017 allowance allocation plan for its pilot ETS. Hubei will issue 257 million permits to cover 2017 emissions, an increase of 1.6% compared to 2016. At the same time, the covered entities have increased by 40% to 344 participants. This is due to the lowering of the threshold for inclusion to 10,000 tonnes of standard coal consumption for all sectors, which accounts for around a sixth of the previous threshold. All allowances will be handed out for free to the 15 sectors according to a combination of the allocation methodologies benchmarking, historical emissions intensity and historical total emissions. Following a pre-allocation of 50%, the remaining allowances will be handed over in May or April after verification with the 2017 production data. Furthermore, 8% of the allowances will be kept in reserves.
Years of groundwork came to a conclusion with the official ushering in of trading in the Chinese national emissions trading system (ETS) on 16 July