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China Carbon Market Expansion Delayed – Caijing

China’s plan to expand its carbon market to companies in the cement, aluminium and steel sectors could be set back till 2023 or 2024, China Dialogue reported on Friday

Many big fossil fuel firms have set net-zero emissions targets, but they are "largely meaningless" because most fail to address key concerns.
Some 75 of the world's biggest fossil fuel companies have vowed to meet net zero goals, but few have actually done anything, monitors say. This AFP photo shows coal power plants in Jiangsu.


China’s plan to expand its emissions trading scheme to include companies outside power generation to firms in the cement, aluminium and steel sectors will be set back until 2023 or 2024, China Dialogue reported on Friday, citing a report in Caijing financial news that said “poor quality of reported data” is holding up the move.

However, it noted that the CarbonInvestment group disputed Caijing’s claim that data quality is the main cause of the delay, arguing that challenging rule-making processes, “such as setting sectoral benchmarks and allowance allocation mechanisms” are the bigger hurdles to expansion. Either way, industry figures fear slow progress on decarbonisation could weaken the “international competitiveness” of Chinese companies, it said.

Read the full report: China Dialogue.



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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years.


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