The new national Emissions Trading Scheme (ETS) in China is focused on the thermal power sector, which accounts for half the nation’s carbon discharge and 14% of the world’s total, as per International Energy Agency data.
Any company discharging over 26,000t of CO2e any year between 2013 and 2019, and this threshold may impact various shipbuilders and shipping lines.
The carbon trading system in China is still at a preliminary stage and needs greater legislative support to succeed, as numerous Chinese municipal schemes have failed to properly take off previously.
Over two thirds of power generation in China still comes from coal-fueled power plants, and including gas-powered plants, over 80% of electricity in China is made from fossil fuels, which enables over 50% of global steel and aluminium production.
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