China Carbon Weekly Market Update – Nov 1, 2021

Week at a glance

  • Total trading volume on China’s national Carbon Emissions Allowance (CEA) market increased by 13.6% to 1,091,342 tons for the week while open market transaction price ended at 42.41 yuan ($6.62) per ton, down slightly from the previous week. The total volume-weighted average price for the week was up 0.25% to 41.64 yuan per ton ($6.50/ton), near its lowest since the launch of the national market in July.On Oct. 26, the Ministry of Ecology and Environment released the official notice on CEA submission for the first compliance cycle (2019-2020) of the national CEA trading scheme, setting the deadline for submission at 17:00 on Dec. 31, 2021.
  • The total weekly volume of the China certified emission reductions (CCER) markets recorded another multiple-month high of 8,035,248 tons, an 85% increase from the previous week. Tianjin again led the markets, accounting for 56.7% of the total volume, followed by Shanghai and Sichuan.
  • On Oct. 25, the Central Committee of the Chinese Communist Party and the State Council jointly released a wide-reaching policy statement, a “master working guideline,” that sets specific numerical national goals for energy efficiency, carbon intensity, energy source composition, and forest coverage for 2025, 2030, and/or 2060, aiming to achieve carbon peaking by 2030 and carbon neutrality by 2060.
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