May 24, 2018 – The council in Nanshan district in the city of Shenzhen has extended a funding scheme for local emitters, paying them if emission allowances remain unused. The emitters receive funding of up to 300.000 yuan (ca. 40.000 Euro) based on how many certificates are not used when complying with the city’s pilot emissions trading scheme. The goal of the program, which will enter its third year, is to stimulate CO2 emission reductions. Nanshan has spent a total of 40 million yuan (ca. 5.2 million Euro) on CO2 mitigation and energy efficiency last year.
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