Latest news with #MinistryofEcologyandEnvironment
Yahoo
15-04-2025
- Business
- Yahoo
Government enacts major change with global trading ramifications: 'A guarantee for the market's growth'
In a move that could reshape global pollution policy, China is expanding its carbon trading program to include more than 1,500 companies across the steel, cement, and aluminum industries — three of the country's most energy-intensive sectors. Announced March 26, this expansion marks a major milestone in China's effort to clean up its heavy industries. Starting this year, companies in these newly added sectors will be required to buy credits if they exceed their pollution allowance. While they'll initially receive enough credits to cover all their 2024 emissions, over time, those allowances will shrink — creating an incentive to cut pollution through cleaner, more efficient practices. "The steel, cement and electrolytic aluminum industries collectively emit the equivalent of about 3 billion tons of carbon dioxide per year, accounting for 20 percent of China's total carbon dioxide emissions," Pei Xiaofei of the Ministry of Ecology and Environment said in a statement. This update to China's emissions trading scheme brings its total covered pollution to a whopping 8 billion metric tons, or over 60% of the country's total. That is a big deal on a global scale since China is the world's largest polluter by volume. According to the Ministry of Ecology and Environment, the country has a track record of making progress using carbon trading to promote a green, low-carbon transition in the coal-fired power generation sector. Over the past four years, the carbon pollution of electricity generation has dropped 8.8%, reducing emission control costs by $4.8 billion. So, why does this matter? For one, it sets a powerful precedent. By placing real costs on harmful carbon pollution, this system encourages polluters to clean up their operations and invest in low-pollution alternatives. That means less pollution in the air and a faster transition to cleaner energy sources. It also shows how policy changes can push industries to adopt greener practices without disrupting jobs or the economy. As China reduces pollution quotas, companies will have time to upgrade their technologies and shut down outdated facilities. This kind of market-based approach also helps further similar efforts elsewhere. In the United States, for instance, the Inflation Reduction Act offers major financial incentives to help Americans switch to energy-efficient appliances, electric vehicles, and solar panels — making it easier (and more affordable) for all of us to play a part in cooling down the planet. As Pei Xiaofei put it, "These efforts have laid a solid foundation and provided a guarantee for the market's growth," all while encouraging a shift toward cleaner, smarter production systems. Should the government be able to control how we heat our homes? Definitely Only if it saves money I'm not sure No way Click your choice to see results and speak your mind. Join our free newsletter for good news and useful tips, and don't miss this cool list of easy ways to help yourself while helping the planet.
Hi Dubai
24-03-2025
- Business
- Hi Dubai
UAE and China Strengthen Nuclear Safety Cooperation
The Federal Authority for Nuclear Regulation (FANR) hosted a high-level Chinese delegation at its Abu Dhabi headquarters, reinforcing bilateral collaboration in nuclear safety and regulatory advancements. The delegation was led by Dong Baotong, Vice Minister of China's Ministry of Ecology and Environment and Administrator of the National Nuclear Safety Administration (NNSA). Welcomed by Abdulla Nasser Al Suwaidi, Chairman of FANR's Board of Management, the discussions centered on knowledge exchange, research and development, nuclear security, non-proliferation, and regulatory frameworks for emerging nuclear technologies. This engagement builds on a longstanding partnership between the two regulatory bodies, formalized through a Memorandum of Understanding in 2018 and a three-year action plan signed in November 2024. During the visit, FANR officials outlined their regulatory oversight of the Barakah Nuclear Power Plant, while the Chinese delegation provided insights into China's evolving nuclear programs. The delegation also toured FANR's Emergency Operations Centre, gaining an overview of the UAE's nuclear emergency preparedness measures and commitment to public and environmental safety. This visit marks another step in deepening UAE-China cooperation in nuclear regulation, underscoring both nations' dedication to global nuclear safety standards. News Source: Emirates News Agency
Globe and Mail
18-03-2025
- Business
- Globe and Mail
China Revives Its Carbon Credit Market: Price Swings & Future Outlook
China has reopened its voluntary carbon credit market after eight years. This has caused sharp price swings. A Bloomberg report showed that the new China Certified Emission Reduction (CCER) credits rose to 107.36 yuan ($14.82) per ton. This price was 21% higher than mandatory carbon allowances. However, it then fell to 72.81 yuan, a 17% discount. The price shifts reflect strong initial demand and a limited credit supply. In the first five days, traders exchanged 911,000 tons of credits. That's almost three times the volume of China's mandatory emissions market. Source: Bloomberg Understanding the CCER Program China's Certified Emission Reduction (CCER) program is key to the country's carbon market. It allows companies to trade carbon credits, supplementing the Emissions Trading System (ETS). CCER allows firms to create and sell carbon credits voluntarily. However, this is different from the ETS, which sets limits on emissions. This approach promotes investments in clean energy and emission reduction projects. The Ministry of Ecology and Environment (MEE) manages the CCER program. Project operators and verification agencies maintain transparency. On January 23, 2024, China's voluntary carbon market saw its first transaction. China National Offshore Oil Corporation (CNOOC) bought 250,000 tons of carbon credits. CCER credits fall into two categories: Emission allowances: Government-allocated quotas that companies must follow. Certified carbon credits (CCER credits): Tradeable credits from emission reduction projects. The program helps industries reduce emissions, manage carbon credits, and trade them for financial gain. High-emission sectors can offset quotas, while low-emission industries can trade credits and enhance their reputation. Renewable energy companies can use carbon credit revenue to improve profits. A New Beginning for CCER Credits The CCER program started in 2012 to reward projects that cut greenhouse gas emissions. China paused it in 2017 because of worries about project approvals. In 2024, the Ministry of Ecology and Environment revived the program. It now focuses on four areas: afforestation, solar thermal power, offshore wind power, and mangrove restoration. This effort aims to promote green projects and help China meet its carbon neutrality goals. Notably, the China Beijing Green Exchange (CBGEX) believes China's carbon market will expand significantly because of financialization. The estimated quota is 7 to 8 billion tons. Annual trading volumes could exceed 10 billion tons. Transaction values might top RMB 1 trillion (US$140 billion). China's Carbon Emissions: 2025 China's emissions surged in 2023, putting the country off track from its goal of reducing carbon intensity by 18% under the 14th Five-Year Plan (2021-25). To stay on course for its 2060 carbon neutrality target, CO2 emissions must now drop by 4-6% by 2025. Source: Carbon Brief Expanding the Carbon Credit Market The Bloomberg report further revealed more details about China's expansion of its carbon credit market. China approved nine new projects expected to supply 9.5 million tons of carbon credits in 2025. These projects include seven deepwater offshore wind farms and a solar thermal plant. Key state-owned companies leading these initiatives are China Three Gorges Corp, State Power Investment Corp, China Energy Investment Corp, and China General Nuclear Power Corp. China's national carbon market, launched in 2021, initially covered power utilities. However, low liquidity and oversupply kept prices below European levels. It plans to include steel, aluminum, and cement producers by the end of 2025, expanding coverage to a larger share of national emissions. BloombergNEF analyst Layla Khanfar explained that the market activity picked up a bit in February after a slow start. However, supply and demand are still lower than in early 2023. Strengthening ETS to Counter CBAM Impact China is a top exporter of CBAM-liable goods. From 2026 to 2040, it will likely ship about 868.94 million metric tons of these commodities, according to a forecast from S&P Global Commodity Insights. Iron and steel account for 42% of these exports, cement 8%, and aluminum 6%. The country's ETS (launched in 2021) now covers 40% of emissions and is set to expand to 8 billion tons. Major 2024 reforms include stricter allowance banking rules, a shorter compliance cycle, and the addition of CBAM-affected industries. Clear Blue Market forecasted that the China Emissions Allowance (CEA) price, averaging 98 yuan (€13) in 2024, is projected to reach 100 yuan (€13) in 2025 and 200 yuan (€25) by 2030, with a market deficit expected by 2026. Source: Clear Blue Market To meet CBAM regulations, China requires factories emitting over 26,000 tons of CO₂ annually to verify emissions data. Thus, China is challenging the EU's CBAM at the WTO while reinforcing its ETS to align with global carbon pricing. China is expanding carbon credits. The above-explained actions show a global push to regulate emissions. However, price volatility and economic concerns remain challenges. As carbon prices rise and regulations tighten, businesses must adapt to remain competitive. Lastly, the effectiveness of carbon markets in reducing emissions will be closely monitored. For real-time insights into carbon pricing, visit our Live Carbon Pricing page.
The Independent
25-02-2025
- Politics
- The Independent
How China plans to eliminate severe air pollution within months
Chinese authorities are ramping up efforts in pollution control and emissions reduction in a bid to effectively eliminate severe air pollution by the end of 2025. Senior environment official, Li Tianwei, the Director of the Department of Atmospheric Environment said China will aim to do so by improving air quality forecasting and early warning systems, as well as enhancing its coordinated management of harmful airborne particles known as PM2.5, and ozone pollution. "The battle for blue skies remains unchanged," Li said according to a transcript on the Ministry of Ecology and Environment's website on Monday. Though some progress has been made, air pollution remains a major problem in China and affects economies and people's quality of life, said the World Health Organization (WHO). Air pollution is responsible for about two million deaths in China annually, the WHO said. Of those deaths, ambient air pollution caused more than one million deaths, while household air pollution from cooking with polluting fuels and technologies caused another million deaths, it said on its website. The WHO considers PM2.5 concentrations above 50 micrograms per cubic metre "severe" air pollution. China's air quality improved significantly in 2024, Li said. The average concentration of PM2.5 in cities was 29.3 micrograms per cubic metre, a year-on-year decrease of 2.7 per cent. The proportion of days with good air quality reached 87.2 per cent, up by 1.7 percentage points year-on-year. China must introduce new emission standards that align with global best practises, Li said, adding that the country will boost the share of new energy vehicles and machinery in airports, ports and logistics parks. Authorities also plan to promote the long-distance transportation of bulk goods by rail and water, rather than by roads. President Xi Jinping has said China prioritises environmental protection, promoting green lifestyles and that conservation of nature is an essential part of building a modern socialist country.
Khaleej Times
25-02-2025
- Politics
- Khaleej Times
China aims to eliminate severe air pollution this year
China aims to effectively eliminate severe air pollution by the end of 2025, a senior environment official said, as authorities ramp up efforts in pollution control and emissions reduction in the "battle for blue skies." China will improve its air quality forecasting and early warning systems and enhance coordinated management of harmful airborne particles known as PM2.5, as well as ozone pollution, said Li Tianwei, Director of the Department of Atmospheric Environment. "The battle for blue skies remains unchanged," Li said according to a transcript on the Ministry of Ecology and Environment's website on Monday. Though some progress has been made, air pollution remains a major problem in China and affects economies and people's quality of life, said the World Health Organization (WHO). Air pollution is responsible for about 2 million deaths in China annually, the WHO said. Of those deaths, ambient air pollution caused more than 1 million deaths, while household air pollution from cooking with polluting fuels and technologies caused another million deaths, it said on its website. The WHO considers PM2.5 concentrations above 50 micrograms per cubic metre "severe" air pollution. China's air quality improved significantly in 2024, Li said. The average concentration of PM2.5 in cities was 29.3 micrograms per cubic metre, a year-on-year decrease of 2.7%. The proportion of days with good air quality reached 87.2%, up by 1.7 percentage points year-on-year. China must introduce new emission standards that align with global best practises, Li said, adding that the country will boost the share of new energy vehicles and machinery in airports, ports and logistics parks. Authorities also plan to promote the long-distance transportation of bulk goods by rail and water, rather than by roads. President Xi Jinping has said China prioritises environmental protection, promoting green lifestyles and that conservation of nature is an essential part of building a modern socialist country.
