Head of the national ETS’ technical expert team explained that China’s national carbon price had averaged at around 8 USD/t, reaching a price that is higher than the 7 USD/t of China’s estimated marginal abatement cost.
On 3 August, China News interviewed Prof ZHANG Xiliang, the Director of the Energy, Environment and Economy Institute at Tsinghua University about the national ETS. As the leading technical expert, he explained that the current price in China’s carbon national market is around 8 USD/t, higher than 7 USD/t, which is estimated as the average marginal abatement cost in China.
China intends to reach its carbon peak before 2030 and to become carbon neutral by 2060. The country’s marginal abatement cost would therefore increase in the future, Prof ZHANG elaborated. He expects China’s carbon price to be 8 to 10 USD/t during the 14th FYP Period and increase further to 15 USD/t during the 15th FYP Period.
Until 27 September 2021, the national carbon market in China has been operating smoothly, with a cumulative trading volume of about 8.507 million tons, a total turnover of about 419 million yuan, and an average price is more than 49.3 yuan/ton.
By 30 September, the transaction turnover in the national ETS has reached over 801 million yuan and the trading volume exceeded 17.64 million tons of carbon dioxide, the average price of CEA is 45.3 Yuan.
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